The Russian Empire collapsed, and the whole world rejoiced in the disappearance of this behemoth that had trembled the European continent for more than two centuries.

Even the Russians are celebrating, finally no longer having to fight! If the fight continues, it is estimated that the Russian Empire will be left alone.

The newly independent countries, which had just established their regimes, were anxious to seek the approval of the international community, and Britain and France took advantage of the opportunity, which made Ferdinand depressed.

There is no way, in terms of influence, in this era, Britain and France are more awesome, people run well, finance is people's strength, and usury is more professional for them.

In a few or two clicks, the leaders of these countries were confused, and then they accepted their loans.

Bulgaria is a step slower in this regard, and by the time the domestic banks react, they have already signed the contract.

Although it is an invalid contract, Britain and France can reverse it at any time, but these countries dare not go back?

In this regard, Ferdinand could not do anything, before the meeting of the League of Nations, everyone signed the loan contract, Bulgaria can't follow suit, right?

However, after seeing that Britain and France had lent money to the Soviet Union, Ferdinand laughed and finally jumped into the pit.

You must know that before the division of the Russian Empire, there were huge debts, and now you can't let the Western Russian family pay it back, right?

If this is the case, Nicholas II can declare bankruptcy, anyway, the current family of Western Russia cannot afford to pay it back.

Don't look at Nicholas II still has a sum of money in his hands, but it is impossible for him to use this money to pay off foreign debts, although the war is over, but the domestic mess still needs money?

Besides, the money in his hands now is not enough to repay foreign debts? After settling this group of soldiers who are about to retire in the country and paying a part of the war pension, he will be poor.

Before the Russian Empire was divided, the government of Nicholas II basically repaid the interest on time, and in addition to deducting it from the war reparations, Nicholas II still had to pay nearly 10 million pounds of interest to Britain and France every year.

This is based on the existence of a large number of low-interest, interest-free loans in the external debt, otherwise they cannot afford to pay the huge debt of up to 2.3 billion pounds.

With the exception of the three debt giants, Britain, France, and Bulgaria, almost all European countries were creditors of the Russian Empire. The French accounted for nearly half of the debt, followed by Bulgaria with nearly £600 million and the British Empire with more than £400 million.

What to do with this debt? It was not raised at the meeting of the League of Nations, perhaps because it was forgotten, or because everyone had their own plans.

In short, it's impossible for them to get rid of it!

Fortunately for Bulgaria, at least the largest loan, the Russians used Ukraine as collateral, in case the government of Nicholas II did not repay the debt, with this collateral here, Ferdinand was not worried.

What the British and French thought, Ferdinand didn't care, anyway, their government would not dare to forgive the debt, otherwise these capitalists would have eaten them raw!

Debt apportionment will be the topic of the next nine governments, and this time will not be too long, and when the tsarist government defaults on its debt at the end of the year, this problem will not be suppressed.

As far as Ferdinand knew, the loans of Britain and France to the Russians were also time-limited, and many of them were about to expire.

If they can't deal with it on time, I don't know if the British and French governments will be able to deal with the people who are demonstrative, because of the Russian debt problem in history, the British and French governments have been cheated a lot.

As the Russian government was unable to repay the loan on time, the London government's financial crisis erupted, and Prime Minister Lloyd-George was forced to sell his knighthood and then ousted from power by the populace.

The French government doesn't know how many cabinets will get out of here!

In short, all this money is lent out by financial institutions, but it is the people of the two countries who pay for it, and these financial institutions will of course go bankrupt if they cannot receive the money.

You can't all use your own money to lend, and you will bear all the losses yourself, right?

There may be such consortia, but they are definitely in the minority. Most consortia have a bunch of financial companies under their umbrella, and when they issue loans, they have to raise money externally.

Interest-free loans and low-interest loans are politically attached, allowing the consortium to recoup the lost interest elsewhere that would otherwise have to be paid by the government.

They will not take full responsibility, and once a huge loan cannot be recovered, they will also appear as a victim and bankrupt these financing companies.

Under normal circumstances, these financial companies or banks are all listed companies, and they have nothing to do with them after bankruptcy and liquidation. All the pressure must be borne by the government.

Of course, this is only a huge loan, and if it is only a loss of thousands and eight million, people can still withstand it.

This is one of the reasons why after the First World War, the French economy was hit hard, and more than a billion pounds were gone.

I don't know how many financial institutions have gone bankrupt because of this, let alone how many people have been implicated and become impoverished, and the domestic economy will naturally be greatly affected.

If it weren't for the fact that Bulgaria had almost monopolized the Russian market, would Ferdinand dare to spend so much money to buy the Caucasus?

Obviously impossible, unless he wants to devalue the lev further, where did the Bulgarian government get so much money?

The last case was that the Bulgarian government wrote a huge check to Nicholas II, and then the deal was completed.

Then, in the middle of the hand, weapons, ammunition, and military supplies shrank the face value of the check in half, and then a large number of industrial products poured into the Russian Empire.

In fact, Nicholas II did not get much cash, and after he got the loan, he turned the money into goods in Bulgaria, and the cash he got back was not so terrifying.

The Bulgarian government, through this round of commodity circulation, has repatriated 20 to 30 percent of its tax revenues.

The money circulated in the Bulgarian business community for another four or five rounds, and the Bulgarian government closed all the accounts through taxation.

In fact, the cash taken out by the Bulgarian government, the part of the money that Nicholas II finally withdrew, the rest was only rolled in the bank account.

This is also the reason why many international loans have to stipulate that the money must be used in the country!

"Your Majesty, the Eastern Russian Empire, the Republic of the USSR, the Grand Duchy of Finland...... They sent us an invitation to send a representative to their founding ceremony! Metev said with a smile

"Well, so fast? Needless to say, East Russia and the Soviet Union, the other countries have elected their kings? Ferdinand asked in surprise

"Not yet, at present, the thrones of their countries are collectively vacant, and the government is still in chaos, and it is difficult to have results in the short term!" Metyev replied

"So they're going to elect a king in the near future?" Ferdinand asked with concern

"Yes, Your Majesty!" Metyev replied

"Inform the royal family of the former Montenegrin Kingdom, their opportunity has come, if you don't hurry, you won't have this store if you miss this village!" Ferdinand thought for a moment and said

At the beginning, in order to legally unify the Balkan Peninsula, Ferdinand bought the Montenegrin royal family and the Romanian royal family, directly bought two crowns, and merged the two kingdoms with Bulgaria.

The deal with the Romanian royal family was completed, and Ferdinand put them on the throne of East Prussia.

But the Montenegrin royal family is different, and there has never been a chance to deal with them, and then they are enough to send people to the Bulgarian government on time every year to receive the royal annuity.

With an annual expenditure of more than 100,000 pounds, Ferdinand naturally couldn't repay the debt, and then this collar was more than ten years, and they didn't see any movement.

Ferdinand wondered if they were going to use Bulgaria as a long-term meal ticket, after all, such a job where you don't have to do anything and just get paid is not easy to find!

If the currency is exchanged, how can they also have an annual salary of hundreds of millions of masters, and there is no such a high-paying profession again. Is there a company that can be so arrogant to give employees an annual salary of one ton of gold?

Such days are more nourishing than when they were royal in the Kingdom of Montenegro before, and the Kingdom of Montenegro has limited finances, so the royal annuity is naturally tragic, and whether you can get the money or not depends on the year.

Ferdinand understood them, for the sake of the title of European father-in-law, Nicholas I had long been empty, and if he did not trade with Bulgaria, he would have been forced into debt by the bankers.

Over the years, he has not only paid off his debts, but also has savings, so he knows why they didn't act.

"Your Majesty, which country do you think is appropriate for them to fight for the throne?" Metyev thought for a moment and said

This sentence is asked very cleverly, everyone knows that the Gotha family is a professional family of kings, even if the former Montenegrin royal family wants to fight, they must first give way.

After all, the Bulgarian royal family's generation has a high output, and there are five empty princes behind it?

Metev's political acumen is also passable, he knows that on this issue, there must be no mistakes, otherwise the consequences will be very serious!

"This is indeed a problem, Xenia intends to make the second child the Grand Duke of Finland, Nicholas II intends to make his younger brother the king of Belarus, and the Orleans family has their eyes on the Polish throne, and they also plan to merge the two Polish kingdoms.

In this way, only the three Baltic countries are left, let them do it themselves, those countries in the middle of the Americas, they also have a chance, if you miss it this time, don't blame us for not being trustworthy! Ferdinand said slowly

"Yes, Your Majesty!" Metev replied a little nervously

Fortunately, I asked clearly, this has already been decided, and if it crashes, it will be a big trouble at that time.

Sure enough, the so-called King Minyuan is all nonsense!

If we can't elect a king who will please the big guys, then the country may have a tragedy in the future.

In this election to the throne, the Western Russian Empire had the most power.

Although these small countries were considered independent by the League of Nations, these were only independent in the sense of the people, and it was okay to form the country with a group of people.

At least now in the newly formed state, the original rebel army has been excluded from the sphere of power, and the local aristocracy and capitalists have held an absolute majority of seats as soon as the parliament is formed.

After all, the strength of the rebel army was still weak, and if it were not for the weakening of the Western Russian Empire, these regions would not have been able to become independent at all.

In this context, the local military nobles were the most powerful, and as soon as Nicholas II put them back, they became dominant.

Wanting them to completely become independent from the Russian Empire was only the idea of Britain and France, and local interest groups were not ready for independence.

The establishment of an independent state can only cut off their relationship and then slowly get rid of the influence of Western Russia, which cannot be done in a day or two.

Such a good opportunity, Nicholas II would be a fool if he did not exchange it for some political resources.

After all, this kind of influence cannot exist forever, and now that these people still recognize him as the tsar, the future is not certain, and parting ways for the sake of interests is inevitable.

In addition to this, there is another reason that the security of the countries is not guaranteed now, and it only takes one military operation for Western Russia to strangle their nascent regime!

For the sake of their own security, these small countries also need to have good relations with Western Russia.

Originally, the hostility between the countries and West Russia designed by Britain and France was based on the premise that they had a certain strength, and they were not expected to do anything in the short term.

Of course, these thrones were decided by Ferdinand, and Xenia's political cells were not so developed that it was impossible to react so quickly.

Ferdinand bet that if she had to choose, she would definitely choose Belarus and Poland, and there was only one reason - it was close to Sofia, so that she could see her son!

Ferdinand made this decision after careful consideration.

On the one hand, the Orleans family had inherited the throne of German Poland and was preparing to merge the two Polish kingdoms, which had the full support of the French government.

The establishment of a strong Polish kingdom in Eastern Europe would provide a counterweight to Germany and Russia at the same time and strengthen their position.

Bulgaria is going to grab it now, it will inevitably have to pay a lot of money, and it is still half Poland, which is not worth shooting at all.

On the other hand, it was Ferdinand who simply felt that Poland's geographical location was too pitiful, and once the situation in Europe changed, Poland was usually the first to finish.

Just think about it, they are caught between Germany, Russia, Austria, and Bulgaria, and the tragedy is already doomed.

If it is a small country that can survive, Poland, a medium-sized country, is definitely dead, and no one is worried about them?

Belarus next door is good, but Nicholas II intends to make his younger brother, Grand Duke Mikhail, this king.

Originally, it was dividing the property of the Romans, and the owner of the family wanted to take a share, and Ferdinand was not good at opposing this issue.

The remaining Baltic states are not as good as the Grand Duchy of Finland?

In any case, this time the Gotha family can only get a crown, and if they want to eat alone, other European nobles will not agree!

In order to obtain the throne of Finland, Ferdinand made two waves of transactions, and everyone supported each other.

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