Holy Roman Empire

Seeing that the Russians had the upper hand on the battlefield, the Berlin government, which had already been prepared, was able to calm down, and the gold master behind could not sit still.

"It is the uncle who owes money."This sentence is used here, perhaps exaggerated a bit.But the essence has not changed. Once the Pupo Federation is defeated, it is difficult for creditors to get money.

The "collateral" promised by the Berlin government in advance depends on the Russians' willingness to admit it.

According to the usual style of action of the Tsarist government, the possibility of pretending to be invisible is as high as 80%, and the remaining 20% ​​is seen, and will not admit it.

In order to win this battlefield, the Berlin government is doing its utmost to raise debt, and various secret contracts do not know how many are signed.

If the Pupo Federation is finished, it is not known how many financial institutions that have borrowed debt will follow.If a consortium wants to transfer losses, a financial crisis is essential.

Not only are financial institutions unlucky, but physical industries are not much better.Many companies seem to make a fortune in war. In fact, many of them are profitable on the book, and a large amount of the balance is owed.

No way, arrears in payment is the biggest stubborn illness in commercial circulation, which runs through almost every link of the capitalist market economy.This is a problem faced by all production enterprises.

No one knows how long this war will last, and no one knows how much this war will cost.In order to support a longer period of time, the Berlin government naturally has to spend as little money as possible.

It doesn't matter how much "debt" you have, it doesn't matter if the interest is high, it's all happy troubles.Only after winning this war, they have to consider these issues.

After the outbreak of the Russo-Prussian War, the export prices of all strategic materials in Europe have increased substantially.

Nominally, after enjoying this dividend of rising commodity prices, companies have made huge profits; in fact, the Berlin government only paid part of the payment, many even only paid a deposit, and the remaining production costs need to be advanced by capitalists.

The Berlin government is rich, and there are still a lot of bank accounts lying in it, which are heard by well-informed people.

It's just that the purchase of materials is all charged, usually when the next batch of goods is purchased, the last batch of payment is settled.

Looking at the high profits, the capitalists will naturally not refuse.Many companies with weak economic power have to borrow from banks in order to advance payments.

To some extent, the Popper Commonwealth has kidnapped the British economy through debt, and both sides have suffered a loss.

Everyone knows the "risks", but they can't stand the lucrative benefits.Coupled with the fact that the Commonwealth of Pobo has won a Russian-Russian war, the newspapers in London continue to depreciate the Russians, which virtually increases confidence in everyone.

All this changed after the Battle of Smolinsk, and everyone suddenly discovered: "The Russian Empire is still the European Gendarmerie, and the Federation of Popo seems to be unable to carry it."

This is not possible. It has already invested so much. No matter how hard it will be, the Poppo Federation will not be finished!If the Berlin government is finished, everyone will be unlucky.

The capitalists do not want the Commonwealth of Popper to end, and the London government also does not want to see the Commonwealth of Popper finish.Finally, he supported a chess piece, so it was gone, and nobody wanted to see it.

For a time Prime Minister Benjamin's pressure increased, and domestic interest groups have asked the government to take action to avoid the worst.

Putting down the documents in his hand, Benjamin asked incredulously: "The situation is so serious that Britain was actually kidnapped by Prussian barbarians?"

The strong contempt between Yumei and Yumei is enough to prove how bad his mood is. The relationship between English and Pu has been very good. Under normal circumstances, he will not use the insulting word "barbarian".

Chancellor of the Exchequer Garfield: "The situation is worse than this. I suspect that even if the Popper Federation won the war, they may not be able to repay these debts.

For the time being, the arrears of the materials will not be mentioned for the time being. They will pay a part of the money anyway. As long as the enterprise is not too greedy, it is basically enough to cover the cost of production.

The trouble is that loans and bonds, once the Pope Federation defeat, almost all collateral is not guaranteed.

The gold they brought out was not enough to repay one-tenth of the debt.Even if all the overseas assets of the Commonwealth people are added, this hole will not be filled.

In the case of incomplete statistics, we have even found multiple mortgage loans, especially the loan agreement signed by the Berlin government and financial institutions in private. The multiple mortgage situation is very serious.

The debt owed to us by the Commonwealth of Popper is far more than the 180 million pounds on the surface. The real data may be 200 million or 300 million. No one knows except the Berlin government."

In recent years, the financial control of Britain was not strict, and the financial institutions issued loans in private, and the London government could not control it at all.

Bond sales are even more confusing, with one million apparently reported, and actually three to five million issuances are common.

In this era of full manual supervision, it is too difficult to accurately count these data. As long as there are no problems, the British government will not bother.

If something goes wrong, the British government can't control it either.Financial problems, small problems will not be exposed at all. Once the big problems are exposed, the institutions are not far from bankruptcy.

"Bankruptcy" is the best weapon to evade responsibility. The government will catch a few scapegoats at most. More often than not, scapegoats are not found.

Prime Minister Benjamin has been too lazy to study the specific debt figures of the Berlin government, which makes no sense.

In terms of investment, this investment is already a junk asset, and timely stop loss is the best option.

Unfortunately, this is impossible.Everyone is reluctant to see their money drifting, and the London government must be responsible for the aftermath.

Originally, Space Time, Britain and France used this trick to successfully pull the Americans into the chariot. Although it has not reached that step, Prime Minister Benjamin still has a headache.

"Damn the barbarian, why suddenly became so insidious!" Prime Minister Benjamin complained

"No, these situations are only for us, or are they in all countries?"

This issue is very critical. If all countries are kidnapped by the debt of the Federal Republic of Popo, then the issue is no longer a problem.

Chancellor Garfield shook his head: "Unfortunately, Prime Minister. Although other countries have similar problems, the figures involved are not large.

It is possible to add up the total debt owed by the Commonwealth of Popper to less than one third of us.

Except for us, the second largest debtor of the Federation of Pope should be the French, then the German Federal Empire, and the remaining countries can be ignored.

The Berlin government does not yet have the ability to borrow money from all over the world."

Hearing this news, Benjamin almost passed out. He swore that this was the worst news he heard this year.

The main reason for this situation is that the British are too rich and the people have a lot of idle funds; followed by the foreign policy of the London government.Without government support, private financial institutions would not be so keen.

Everyone took it for granted that the government would not let the Pupo Federation lose the war.In this case, what else is there to worry about, does the Berlin government dare not pay the bill?

Other countries are different. Not everyone is optimistic about the Pupo Federation, nor is everyone confident to ensure debt security.

For example, the Austrian financial industry does not borrow money from the Popper Federation for a very realistic reason-the Vienna government is supporting the Russians.

Due to political influences, everyone is not optimistic about the Pupo Federation, and naturally no one will lend them money.

Not to mention the small European countries, not to mention whether the money can be guaranteed to be recovered, the key is that there is not much in their pocket!

Against this background, it is not surprising that France became the second largest creditor and the German Federation became the third largest creditor.Who makes you rich in your pocket and has a good relationship with the Berlin government?

Benjamin asked undoubtedly: "So what about the Russian Empire? Don't tell me, the Tsarist government also borrowed a lot of money from us!"

Garfield nodded helplessly: "Unfortunately, Your Excellency. The Tsarist government did owe us a lot of money, of course, not as much as the Commonwealth of Popo, about 50 to 60 million pounds.

A large part of this was borrowed before the war. It can also be used to calculate the advance payment for the import of Russian agricultural products, and some is the remaining balance owed after the war broke out.

We have roughly counted the foreign debts of the Russians, and there is no accident. Their largest debtor is Austria, and the total debt should not be less than what we lent to the Popo Federation.

Most of them are loans, and a small amount of bonds, and there are very few final purchases of materials.Because the czarist government had a precedent for failing to pay, most Austrian companies demanded settlement."

It seemed that the news was too heavy. After a pause, Prime Minister Benjamin eased over.

"This is the worst situation. We cannot watch the defeat of the Pupo Federation, nor can the government of Vienna watch the defeat of the Russians. This war is not just a matter for Pu and Russia!"

The Anglo-Austrian confrontation, or the Anglo-Austrian war between the two nations through Pu Russia.Either way, the final outcome is not optimistic.

Especially now the Federation of Popo is at a disadvantage on the battlefield and is more passive for Britain.The price to be paid for the Pupo Federation to overturn.

Foreign Minister Edward: "The situation is not so bad. In fact, it is mainly us who are kidnapped by debt. Austria has also retained the initiative.

The Russian loans from Austria involve only a few large banks, and there are territories as collateral. Although the valuation is a little higher, as long as they can be cashed, they will not lose their money.

Judging from the current situation, I don't think the tsarist government has the ability to default.On the contrary, we are in great trouble, but the same debt involves hundreds of thousands, even millions."

It doesn't work without a headache, and at the same time lending money to the two seemingly beautiful scenery, in fact, there is misery.No matter who wins or loses, there will be a debt default, nothing more than a question.

However, the London government cannot control the financial sector. The bankers' investments are based on their own interests, and national interests are not within their consideration.

It's okay to be able to get it back smoothly. Once a debt default occurs, these consortia will pull back from the shell and send out the omnipotent "bankruptcy" Dafa.

Of course, there are also brains that are not smart, or are slow to respond, failing to transfer risks in time, and giving themselves to dead idiots.

Fortunately, the credibility of the Russians is not good, and there are few capitalists willing to lend them money, otherwise the London government will have to realize once what is really a dilemma.

Chancellor of the Exchequer Garfield shook his head: "I don't think there is any difference. Even if the Vienna government has more choices, they will not be allowed to let the Popper Federation win the war.

Even they will be happy to use our hands to weaken the Russians and clear a major obstacle to their unification of the German region.

Think about it, the defeat of the Pope Federation and the disintegration of the Russian Empire, our economy has been severely damaged by debt default, is there a more ideal situation?

From the perspective of the beneficiaries, I have reason to believe that the current situation is planned by the Austrian government.

Of course, it may be France, but I do n’t think that the little ass boy of Napoleon IV has this ability."

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