Chapter 815 Ireland's Choice (2)

  Zhong Shi's plan is very good, but it is very unrealistic for the current situation in Ireland, because the time is too hasty. The rapid deterioration of the situation in the Irish national debt market has left their top leaders with no time to advocate Brexit. The most important thing for them right now is how to ensure that these sovereign debts will not default.

   But it's hard to say that none of them are unimpressed by the deal. If such an agreement was placed in front of them in September, I am afraid that the top leaders of Ireland will struggle for a long time, but now they simply do not have so much time.

   “Are you applying for a loan on behalf of the government?”

   Enda Kenny squinted his eyes slightly, and asked seemingly casually, "Or apply for a bailout to the EU in the name of the Irish banking industry?"

   "In the name of Irish banking, of course!"

  Cowen's face sank, and he said without thinking, "Are you kidding me? Is the government bankrupt? We have a budget by the middle of next year, so why not apply for a rescue?"

  He said these few words with a stern voice, and if there was a disagreement, he would explode into trouble.

   "Relax, my friend!"

  Enda Kenny pouted, with a nonchalant expression on his face, "I'm just asking."

   Judging from the current polls, the Irish people do not want their country to seek external assistance, because this will damage the reputation of the "Celtic Tiger", and some people even raise this rescue to the height of national sovereignty. For the Republican Party and Cowen, accepting foreign aid means that the Irish economy under his administration has completely failed, and the Republican Party may suffer a crushing defeat in the future mid-term elections and the subsequent general elections for the House of Commons.

  So Cowen would rather let the Irish banking industry in the storm accept foreign aid than accept aid in the name of the Irish government.

  And Enda Kenny also saw this, so he deliberately tried to say.

Glancing at the other party with dissatisfaction, Cowen suppressed his dissatisfaction in his heart, and said in a deep voice: "Gentlemen, use your own channels to release the news after you go back, saying that the Irish government is considering accepting EU aid in the name of the banking industry." .”

  His intention in saying these words is naturally to influence the trend of Irish national debt in the international market through gossip, and indirectly reduce the current pressure on the Irish government.

   All of them nodded silently.

  …

   "Mr. Lane, hello!"

  Ten minutes later, Cowen appeared in a resplendent conference hall and received European Commissioner Ollie Rehn, who was in charge of economic and monetary affairs.

Ollie Wren has been in Ireland for several days. In addition to investigating the current situation of the Irish banking industry, he also talked with the Irish Minister of Finance, the Governor of the Central Bank and other financial figures. The purpose is nothing more than to persuade all walks of life in Ireland to accept the EU rescue.

   It has to be said that the party in the crisis vortex does everything possible not to want rescue, while the other party who is safe and sound needs to persuade the other party to accept rescue. This is indeed a strange thing.

   "Mr. Cowan!"

  Ren glanced at the other party with a complex expression, and sighed secretly in his heart. In the past few days of investigation, he has obtained some first-hand data. The economic situation in Ireland is very serious, almost to the point of imminent danger. However, the high level of the Irish government is calm about this, which makes him not know what to say.

  "European finance ministers will hold an emergency meeting tomorrow to discuss the current situation."

  After the two parties were seated, they exchanged a few words of greeting, and after letting the reporters take photos, Rennes couldn't wait to say, "The main thing is to discuss the current economic situation in Ireland and Portugal."

"us?"

  Cowen's face flashed a little unnaturally, and he touched his smooth chin and said thoughtfully, "We don't have any problems. At least until the middle of next year, the Irish government's finances will not have any trouble."

  During this period, a group of high-level officials, including EU President Van Rompuy, came out to speak out. Either it is to urge Ireland to accept aid as soon as possible, or it is to relieve the current situation in Ireland. Almost all the politicians in the euro zone have preached to Ireland, but it seems that the effect is not very good so far.

   "Really? I don't think so!"

Ryan had to persuade him earnestly, "Mr. Prime Minister, I understand your concerns. But according to my investigation and interviews, Ireland has indeed reached the point where it needs rescue. If nothing else, as you said, if the budget It will be maintained until the middle of next year, and what will happen next? Some national debts will come due one after another, and what will Ireland use to repay it? Could it be that the Republican Party will not be in power by then, so will it not be responsible for the situation?"

"this…"

   Cowan pretended to ponder, as if there was a little looseness.

"According to my preliminary estimates, the Irish banking industry needs at least 40 billion to 80 billion in bailout funds. According to the current financial resources of the Irish government, I am afraid it cannot support such a large debt. I am afraid that the Irish government may not be able to raise funds in the market now. If the news of the real shortage of funds in the Irish banking industry spreads, not to mention the pressure from the outside world, the run on the domestic people will quickly crush the Irish banking industry."

"Once the Irish banking industry goes bankrupt, it is foreseeable that the Irish government will go bankrupt next, because you will not be able to get back the funds you invested earlier. And if the government goes bankrupt, debt restructuring will be a very long process. Look at the current Argentine government, this is your lesson. Without ten years or more, I am afraid that the Irish government will not be able to return to the international market."

  Since the bankruptcy of the Argentine government in 1999, they and their creditors have been involved in lengthy legal entanglements. It was not until 2016 that the Argentine government and some creditors reached a final restructuring agreement, which allowed the Argentine government to return to the international market. In the process, even a warship of the Argentine government was detained at the request of creditors, which can be described as an international joke.

However, during the 17 years that the venue was full, on the one hand, the Argentine government had to repay the creditors’ principal and interest, and on the other hand, it was unable to issue new bonds to raise funds, so that the government’s expenditures were always stretched. It even led to the decline of the entire country's economy, which can be described as a heavy loss.

  As soon as he heard the example of Argentina, Cowen's face twitched visibly twice. Although he attaches great importance to the interests of the Republican Party, as prime minister, he is obviously unwilling to become the sinner of the entire country.

   "At that time, it will not only be a problem of debt repayment, foreign investors may immediately be deterred from Ireland!"

  Ren finally said while the iron is hot.

  In fact, Cowan understands these reasons. As the prime minister of a country, if he does not have a clear understanding of the importance of breach of contract, then he will be very dereliction of duty. But now Renn is still taking the trouble to say it again, naturally he wants to remind the other party that if he does not accept assistance, the consequences will be very serious.

   "If this is the case, do you know if it will work?"

After a long silence, Cowen finally said, "Let the Irish banking industry apply in the name of the guild instead of the Irish government. This will not only solve the current serious problem, but also let our The government has avoided being criticized. I wonder if this application method is feasible?"

  The European rescue mechanism is a system jointly proposed by European countries. As participants are naturally sovereign countries, it is a matter of course that the applicant must also be a sovereign country.

   "This will not work, absolutely not!"

As soon as Ren's face changed, his head shook like a rattle the next moment, and he resolutely vetoed, "Not to mention whether the procedure can be passed, but in terms of repayment ability, what do they use as a guarantee? You must know that the sources of these funds are all It is the taxpayers of various countries, and if they fail to pay back, they will have no way to explain to the public."

  If the subject of the loan is the government, at least there are taxes as credit guarantees. And direct loans to the already disreputable and insolvent Irish banking industry, in the event of bankruptcy, these funds will be in vain. At that time, the leaders of any European country will have no way to explain to their own people.

"yes?"

   Cowan was well aware of this situation, but he still tentatively brought it up. After being rejected by Rennes, his expression did not change much, and he even showed a disapproving expression.

   This made Ren's heart thump suddenly, and the situation in the secret channel seemed to be a little bad.

   "I didn't mean to offend you at all!"

   Just when Ryan was feeling uneasy, Cowen said again, "But with new circumstances, I think you should understand that the current Irish government does not have only one choice."

"what do you mean?"

  Ren didn't understand the other party's meaning for a while, so he asked back without knowing it, "It's not a choice. Could it be that there are other ways to go?"

"certainly!"

Cowen said confidently, "In fact, we have already received another offer, that is, a certain party also wants to provide aid to Ireland, and the amount of aid is far beyond our imagination. I think, With the addition of this funding, Ireland's need for a bailout from the EU would be less urgent!"

"what?"

  Hearing the news at first, Ren was shocked and blurted out, "What kind of conditions did they offer?"

   “Get out of the Eurozone!”

   Cowan said lightly.

   These words exploded in Ren's ears like a bolt from the blue, causing his brain to lose the ability to think in an instant. He doesn't need to ask, he knows who made this thing. After finally waking up from the shock, he tried his best to shake his head, and then looked at Cowen, who had a smile that was not a smile, and his heart began to sink rapidly.

   Not to mention whether the other party has made a deal, just saying that Ireland will leave the euro zone is enough to push the current Europe to the brink of division. You must know that the core of the entire euro zone is to use the same currency. Now that a country has separated due to the debt crisis, after setting this precedent, there may be a second or third one, and then the entire euro zone will be completely finished. up.

   "Too ruthless!"

   He cursed secretly in his heart.

   "Of course, as a government and political party that pursues European integration, we are actually not interested in this proposal!"

Seeing that the other party almost lost his composure, Cowen was secretly proud, but he couldn't give the other party the impression that the Irish government really planned to leave the euro zone, so he said hypocritically, "Not only me, but also the leaders of the other two political parties, They all expressed their disdain for this proposal. But the problem is that the conditions they gave are too generous, if we just miss it, then we will really become the country's sinners."

   "It turns out that he was playing this wishful thinking!"

  Ren finally heard it. It turned out that the intention of the other party to disclose the news was here. At this time, another question appeared in his mind, that is, whether the rescue plan mentioned by the Irish government is real or fabricated by them. But now he doesn't have time to find evidence, so he can only appease the other party first.

   "The key is this matter, I can't be the master!"

He shrugged, expressing resignation, "But I can pass it on to the people in the European Commission on your behalf. They will evaluate everything based on the current situation and finally make a decision. I think in the end they will make a decision that is beneficial to Ireland and the whole of Europe." decided."

   Thanks to the book friend for a generous reward! The situation in the past two days is basically satisfactory. The only fly in the ointment today is that I haven’t seen a monthly pass. I hope that friends who still have a monthly pass can be more active. In addition, don’t forget to vote for recommendation tickets. Thank you everyone. Your support is the author’s greatest. motivation~

  

  

  (end of this chapter)