Holy Roman Empire

The Russian-Austrian negotiations have already begun. Alexander II is not a reckless man. The debts are mainly due to lack of money, which does not mean that he is not aware of the consequences of losing his reputation.

Even if it is to rely on the debts, the impact must be minimized as much as possible, and the Tsarist government will re-establish credibility someday in the future.

The worse the impact is now, the harder it will be in the future.The grain of the Russian Empire still needs to be exported, and relations with European countries cannot be completely deteriorated.

Otherwise, even if the price of cabbage in the future, people will not want.It will be a tragedy at that time, and it is important to know that overcapacity in grain can also lead to economic crises.

The Russian Empire ’s own market alone does not yet have the strength to maintain an economic cycle.The era of closing the door to play by yourself is over from the beginning of the Industrial Revolution.

Austria is not only the largest creditor and part-time ally of the Russians, but also the most important link in Russian foreign relations.

If even Austria ca n’t figure it out, do n’t do the rest.In the future activities on the European continent, nothing will happen to the Russians.

Many people in this era believed that Russia is an Asian country. After all, the seven continents are also artificially demarcated, and the boundary between Asia and Europe has not yet been recognized by the world.

Most of the territory of the Russian Empire is in Asia, and the European part is a little more than a quarter, saying that they are Asian countries and there is not much problem.

Of course, the Russians will not admit that they are Asian countries, not even Franz. If they are divided according to the area of ​​the country, he will become a "non-chief."

The name alone is very unpleasant, so it is scientific to use the location of the capital to divide the state into which the country belongs. It must not be divided according to the location of the main land area.

At the Ministry of Foreign Affairs of Vienna, Weisenberg called on the Russian Minister to discuss the issue of debts of Faw.

"Mr. Soles, your country suddenly declared financial bankruptcy, I am afraid it is too much! As far as I know, your country's finances are difficult, but it has not reached the point of immediate bankruptcy."

Indeed, it did not reach the point of immediate bankruptcy, but went bankrupt in a few months.After the end of the civil war, the debt that the Tsarist government had to pay each year had exceeded half of the current fiscal revenue.

In this case, it is inevitable to be accountable.Of course, if the czarist bureaucracy suddenly became upright and clean, it might be possible to fill this hole.

Obviously, this is impossible.The bureaucrats of governments in various countries were not so clean in this era, and the so-called governmental administration of Qingming is only relative.

Compared with the Russians, European bureaucrats are honest.It's not that they have less corruption and bribery, it's just evolution, knowing what money can be collected and what money can't be touched.

There are very few fools who demand money and die.Basically, there are supervisory agencies in all European countries, and bound bureaucrats naturally perform better than non-binding bureaucrats.

Minister Soles cried very calmly and said: "Your Excellency, you are not aware of our suffering. Years of continuous wars have devastated our domestic economy.

I do n’t deceive you from saying that this year ’s fiscal revenue is probably less than 200 million rubles, and it returned to twenty years ago.

However, the debt that needs to be repaid each year is as high as 120 million rubles, and the remaining money is simply not enough to keep the government running.

From the outbreak of the Russo-Prussian War to the present, our annual fiscal deficit has exceeded our fiscal revenue. This is detailed information. Please review it."

Looking at the thick document, Weisenberg did not reach out to pick it up.These are all open secrets. The financial situation of the tsarist government is very clear. The Vienna government is very clear.

The current fiscal revenue is less than 200 million rubles, which is normal.After losing so much land and smashing the Moscow region, it is only a problem if the fiscal revenue does not decrease.

"Mr. Soles, today we are not discussing your country ’s financial issues. You should respond to your country ’s Ministry of Finance on this issue. They are the person in charge.

The purpose of our meeting today is only to discuss the debt issues of the two countries.It is approved by God to repay the debt, and your country must give a clear answer."

Failed to lead the topic, Soles was not frustrated.It's been a while, but I can't fool for a while.Such a large amount of debt can't be solved just by talking about it.

"I'm sorry, Your Excellency. With our current financial situation, we are unable to continue to perform our debts, and we request an extension of payment.

This period is tentatively set to be five years later, and at the same time we hope to be able to waive the loan interest and debt penalties, otherwise we will not be able to afford it after five years."

Without paying interest, the total debt between Russia and Austria has been reduced by half, and the actual payment by the Russians has shrunk to less than one third.

This obviously exceeds the bottom line of the Vienna government. According to this standard, the Vienna government will lose money for the Russians.

Weissenberg shook his head and said seriously: "Sorry, Your Excellency, we cannot accept this condition.

We have provided many guarantees for your government ’s loans, otherwise you will not be able to borrow at such low interest rates.

Now that you have defaulted, this debt will require us to bear it, and as an ally, you ca n’t be so ugly.

We require execution in accordance with the contract, and deferred payment of loans can be negotiated.The interest on the loans we provide is already very favorable and cannot be reduced further."

No one pays for the loss-making business, and it is natural that the Vienna government cannot do this.The Tsarist government did not want to declare bankruptcy with credibility. It was forced by reality, and Austria was afraid to follow suit.

...

Negotiations are still deadlocked, and both parties want to fight for more benefits.This news is not a good thing for the Austrian financial community.

In particular, securities companies that undertake Russian bonds in private, and banks that provide loans to the Russians.This kind of private transnational debt has never been the most difficult to collect.

Originally, compared with commercial loans, the security of national debt is actually the highest, and in general, few countries rely on it.

It's a pity to meet the Russians. If you change to a small country, even if you have to pay the bill, you will at most declare a suspension of payment, and then come to negotiate to extend the debt.

It is now a tragedy, and the Russian representative is gone.If it were not for the Czar ’s government to admit that the debt existed, they would doubt whether it was deceived.

Admit to admit it, anyway, no money or no money.When no money is paid, no one gives any answer to this question.

Their only hope is this Russian-Austrian negotiation.If the Vienna government did not manage the Russians, then this debt would be everyone's bad debt.

Who does finance have few bad debts?If the supervision of the Vienna government was not too strict, they would have already thrown the losses to private investors and reopened in another vest.

Unfortunately, Austrian law is too strict, even if it escapes the punishment.The law also stipulates that after any financial institution goes bankrupt, all management and shareholder three generations shall not engage in similar business.

This is very restrictive for financial predators, and the golden cicada's move is not working.When speculating, you must consider the risks. If something goes wrong and is hidden behind the scenes, it is likely to be implicated.

Otherwise, from the beginning of Russia ’s announcement of debt default, it should be the bankruptcy of Austrian financial institutions.

As of now, financial institutions in the entire European continent have declared bankruptcy because of Russian debt defaults, and the financial industry in Austria is still struggling to support it.

Looking at the long-term interests, no one wants to be out of this time if the capitalists can support it.

Phillip Porter was just one of them. After a lot of running around, he still didn't get the answer he wanted.

High profits are always accompanied by high risks, and it is easy to reduce risks. Don't make a capital preservation commitment when selling bonds, and clearly inform investors about the risks.

The issuance of bonds does not depend on credibility, but on guarantees.As long as it goes through a rigorous review, even if there is a problem with the final debt, it is impossible to lose money.

Filthy back to the company, Phillipe sat in the office and smoked.I have already started to figure out if I want to raise funds from other places to fill this hole.

The high commission plus the penalty for early redemption, in the case of calculating the company's operating costs and taxes, the loss this time is about 560 thousand Aegis.

As for the company's operating costs and taxes, in fact, the commissions obtained in the past, and the benefits of rolling in the financial market, can already make up for it.

If calculated comprehensively, the loss of this business may be even smaller, otherwise the financial industry will not be called a profiteering industry.

Even all bondholders need to redeem in advance, and now the funds that need to be spent are 6.67 million Aegis.

Half of the company ’s project funds can be solved, some long-term stocks and bonds can be sold, and another 1.5 million Aegis can be raised.

Selling several mansions under one's own name can also raise four or five hundred thousand Aegis, and the final gap is one hundred Aegis.

As long as the company is kept, the money can be earned back.After all, Phillipport's securities company does not exist alone, but also holds shares in a bank.

Part of the profits that Phillipport obtained from the company was used for personal consumption, and the vast majority was invested in other fields. Banks are one of them.

Even at this moment, he didn't mean to sell bank shares.Without the identity of bank shareholders, it is difficult for securities companies to raise funds.

While he was thinking about how to raise funds, a familiar voice came from outside the door.

"Mr. Phillipport, good news, good news!"

Phillipport pretended calmly: "Alpha said slowly, don't be excited."

The young man of Alpha said breathlessly: "I have just received news that Wells Fargo has acquired Russian bonds on the market.

It's just that the price is a bit low. They are only willing to offer two tiers of par value, which is lower than the current market value, and they are limited to accepting only exclusive bonds issued by Russians to Austria."

After the tsar's government announced that it was bad debts, the Russian bonds depreciated.It didn't become waste paper at once. After all, the Russians might still be able to pay it, but the hope was slim.

Price is price, but unfortunately there is no market.No matter how much the price is, no one in the market dares to charge.Debt collection from the Russians, everyone does not think they have the ability.

The actions of Wells Fargo Securities undoubtedly injected a good medicine into the market.However, this has little to do with Phillipport. It is very deadly to buy back Russian bonds, and then collect the bonds from the market to earn the difference, or forget it!

This kind of high-risk money can only be played by the predators.As a little pawn in the capital market, let's not join in the fun.

"Get in touch with them immediately, we have a lot of bonds in hand, and ask them if they want. As long as they may make a 50% discount, I will sell them without a 40% discount!"

This is a temptation. Compared with financial predators, Phillip Porter's news is still not well informed.

Whether it is a smoke bomb released by Wells Fargo Securities, or if things really turn around, is completely unknown.

After all, the number of bonds held by large institutions is much larger than them.The financial institutions that are forced to buy back bonds in advance are not one or two.

In order to stabilize people's hearts, it is entirely possible to release a message intentionally.Not only is Phillip Porter skeptical, but many financial institutions in Austria are skeptical.

The Russian-Austrian negotiations have reached a deadlock. This is an open secret. Most people in the financial industry are paying close attention to the negotiation process.

It is not difficult to know the specific content. It may be difficult to obtain information from Austrian diplomacy, but to understand the negotiation process from the Russians, it is only a matter of money.

However, the true and false news, everyone can not judge.Under normal circumstances, the credibility of Russian bureaucrats is still very good, and collecting money to do things is their good professional ethics.

In the unlikely event that things cannot be done, it is likely that you will also receive a refund service, which many people experience.

But this time the situation is different and the problems involved are too great.It's not impossible for someone to pay a high price and let them do a show every time.

The most reliable thing is to ask the Foreign Secretary to confirm it personally. No one knows how to do such a stupid thing.This is not the case for death. The dignity of the Vienna government cannot be provoked, and it is daring to spy on state secrets.

Testing the rich country's securities has become the only option. In the event of progress in the negotiations, you will earn a lot of money holding Russian bonds.