Holy Roman Empire

If you want to get funds, follow the market rules.We can issue bonds to them, and we can issue bonds for them, but the interest rate is determined by the market. "

In fact, the aid provided by Austria has never been gratuitous.It's just that compared with the capital market, the funds provided by the Vienna government are the highest conscience of capital.

"Interest-free loan" is the kind with no strings attached. There is no such conscientious creditor in the world anymore.

But this "conscience" is time-limited.In order to attack the French during the war, the Vienna government was naturally full of "conscience".Now that the war is over, the "conscience" is exhausted.

Frankly speaking, if it wasn't for the fact that too many bills were printed before, and there were concerns about the repayment ability of various countries, it would be okay to continue to issue interest-free loans.

After all, what was loaned out was Aegis, not gold.Now that the Aegis has been taken, the post-war reconstruction of various countries cannot do without Austria.

Through trade means, most of the money will still flow back to promote the economic development of Austria, and the Vienna government will not lose money.

It is a pity that during the war, the Vienna government had already activated the money printing machine, and now there is a surplus of Aegis circulating on the market.

It's obviously inappropriate to play like this again.In case there is a problem in any link, inflation is a matter of minutes.

In order to stabilize prices and the value of Aegis, the Vienna government also had to find ways to recover the excess banknotes in the market, for example: issuing bonds.

In this context, the debt of the Vienna government is naturally increasing day by day.However, compared with the currency hegemony of Aegis, this price is not worth mentioning.

After all, there is still a competitor-"sterling", and it is far from the time to act recklessly.

Minister of Economy Reinhardt reminded: "Your Majesty, the current intelligence is very special. Because of the war, the outside world is skeptical about the repayment ability of the governments of Belgium and Italy.

In addition, the French debt default and the German Federal debt default that just broke out have stimulated the capital market, and the market as a whole is now in a cautious state.

Unless we provide them with credit guarantees, they cannot obtain financing in the capital market.

The risk here is very high. According to the analysis of the data we have collected, the possibility of debt default in Belgium and the Italian states is as high as 90.00%. "

Zhou was prepared for a long time, knowing that this is a high-risk transaction.But after hearing the "90.00% possibility of default", Franz was still taken aback.

Gambling is not played like this, no wonder no one cares about it in the capital market.

Austria provides a guarantee, and the probability of default is as high as 90.00%; if it is replaced by an ordinary financial institution, the probability of default is not [-]%.

After a little hesitation, Franz decided to take the risk.After all, they are all allies, and the Vienna government can't watch them die!

If these younger brothers are finished, and they are supported again, who can guarantee that the new government will continue to implement the pro-Austrian policy.In case of being fooled by the British and running away, Austria's losses will be great.

Chapter 231 Financing

In order to help the younger brothers restore the economy, an Austrian version of the "Marshall Plan" was released.The core purpose is to revitalize the European economy and seize the commodity sales market, the difference is that the content has changed a little bit.

Austria at this moment is far less wealthy than the Americans after World War II, and the Vienna government will not be able to provide huge financial aid for a while.

To provide countries with funds for post-war reconstruction, they have to use the financial market for financing, so interest is still indispensable.

Before the outbreak of the European Continental War, the four major financial centers in Europe were London, Paris, Vienna, and Frankfurt.As the leader of the financial world, the London capital market is almost equivalent to the sum of the latter three.

Because of the war, Paris was basically abolished.The counterattack before Napoleon IV ran away caused the French consortium to suffer five labors and seven injuries, and it was not easy to survive.

Austria's development time is still too short.Franz also paid special attention to the real economy. Most of the domestic funds flowed into industry, and there was not much capital circulating in the financial market.

Vienna and Frankfurt can become the four major financial centers in Europe, not because they are so powerful, but because the competitors behind them are too rubbish.

If the currency in circulation in the European financial market is 48.7%, the financial market in London will account for 19.6%, Paris, which ranks second, will account for 14.1% (before the war), followed by Vienna and Frankfurt, which account for 13.7% and [-]% respectively. .

Looking back, the gap is huge. Milan, which ranks fifth, is less than two percentage points. Needless to say, Madrid and St. Petersburg are further behind.

This ranking is not only valid on the European continent, but also applies to the whole world.Any one of the four major financial centers has more capital than the sum of all subsequent financial markets.

Looking at the data, we can see that the background of the British is really solid.The century-old accumulation of colonial empires cannot be surpassed overnight.

Even if Austria gives full play to the siphon effect and brings together capital from Central Europe, Southern Europe, Eastern Europe, and Northern Europe, it is still a younger brother.

This is still the result of robbing South Africa's gold, otherwise the gap would be even worse.You must know that the original space-time London financial market now owns more than half of the world's capital.

Relying on this solid background, John Bull survived two world wars, and lasted until the 21st century. London was able to compete with New York for the position of the world's financial center.

Now Austria not only needs to finance itself, but also helps the younger brothers to finance. After a rough estimate, it can't be done without 30 billion Aegis.

They all think of ways from the domestic financial market, and they have to suck up the funds, which may cause a stock market crash.Naturally, the Vienna government would not do such a stupid thing.

If you can't do it domestically, you can only find a way from abroad.Anyway, capital has no borders, and money is money no matter where it comes from. Franz doesn't mind whether he borrows domestic or foreign debts.

"You mean the British will use this as a threat to negotiate terms with us?"

If you want to raise funds from the London financial market, you can't get rid of the British government.Although the British are clamoring for a "free economy", this kind of international large-scale financing still requires government participation.

With John Bull's style, it is entirely possible to take advantage of the opportunity to negotiate terms with Austria.

"Yes, Your Majesty!"

Prime Minister Carl: "Without affecting the economy, the domestic financial market can provide up to half of the funds, and other financial markets add up to an estimated [-] to [-] percent.

It's just for our own use, the money must be enough.But given the allies' funding shortfalls, that's not far off.

Now it is not only the states of Belgium and Italy who are short of money, but the people of Switzerland, Spain, and Russia are also poor and need our financial support.

If they can't get money from us, they are likely to move closer to the British, which is very bad for us. "

Franz has personally experienced the power of the "money ability".Don't say that these allies were originally brought together because of their interests. Even if they are really close allies, they can't withstand the offensive of "money power".

The essence of international politics is interest, and there is no betrayal because there is not enough interest.If you talk about "loyalty", you have already lost.

In a sense, Austria's ability to gather so many allies is also the result of using its "banknote capability".The Vienna government had more money than the Paris government and was more willing to bid, so Austria won.

There is no way, who made Austria's allies poor?Even if they were not poor before the war, they are poor now.

Not to mention the countries of Belgium and Italy, they were caused by the war.

Switzerland, a country of mountains, has never been rich.So far, we have been accumulating capital for the industrial revolution, and it is not the ideal country that everyone envies in later generations.It is impossible to digest the newly occupied areas without borrowing money.

Spain can only say that their ancestors were awesome. Since the 19th century, their finances have never been better.Now we not only have to digest the results of the war, but also go to Nanyang to fight the Japanese. Without money, it is absolutely impossible.

The Russians are even more old-fashioned poor households. If you read the history books, you will know that the Tsarist government basically never lacked money.

The only thing that comforts Franz is that the anti-French alliance is still relatively stable, and it can't be won over by the British for a small profit.

Due to geopolitical reasons, except for Spain, Austria has a strong deterrent effect on other allies.If you want to be a second or fifth boy, you must first see if you can afford Austria's revenge.

In this regard, continental countries are stronger than maritime countries.Especially for small countries such as Belgium and Switzerland, it is even more cruel.

The British, who offended the overlord of the sea, could not go ashore with the Royal Navy. At most, they would suffer losses in overseas trade; Austria, who offended the overlord of the European continent, might directly perish.

After contemplating for a moment, Franz said coldly: "The main purpose of this financing is to solve the difficulties for everyone, it doesn't make sense for our family to bear it, and we will bring in the Anti-French Alliance to talk to the British.

We can take the war reparations from the French as a guarantee, and the countries of the anti-French alliance will jointly provide guarantees for debt security and jointly bear the responsibility for breach of contract.

If the British are not at ease, the Anti-French Alliance can maintain a garrison of no less than 50 troops in France to urge the French government to fulfill its debts.

By the way, the news is that we are preparing to form a European customs union and are considering whether to allow Britain to join.

Other conditions are up to you to decide.As long as it does not harm our core interests, it can be discussed. Presumably the British government will make the right choice. "

To judge others by oneself, Austria wants the market of the anti-French alliance countries, and the British have no reason not to peep.In this context, helping countries recover their economies is essentially in everyone's interest.

If the British government takes the loan cardholders, Franz doesn't mind a loss-lose situation. He created the "European Economic Community" in advance to exclude the British from the European economic system.

The "lack of money" will cause the economy to recover more slowly, and the anti-French alliance has no shortage of food. As long as the people are fed, there will be no major troubles.

"Lack of market" is different.These days, the European continent can be said to be the region with the most purchasing power in the world, accounting for more than half of Britain's total foreign trade.

Losing such a large market all of a sudden, we can't find a new market to replace it in a short time.India's market potential is indeed great, but potential does not equal purchasing power.

By the time the market has been cultivated, time has passed.Without Europe, Britain will have to add at least millions of unemployed people in a short period of time, and an economic crisis is indispensable.

Although there are great conflicts between Britain and Austria, there is really not much hatred.Even if it is a confrontation, it is also carried out in secret, and the relationship between the two countries is not bad on the surface.

Franz does not think that the British government will risk losing both sides and come to fight Austria. This is not in the interests of politicians.

Again, this is not in Austria's interest.From the perspective of development potential, Austria is obviously far ahead of Britain, and slowing down its development speed is a waste of its own advantages.

It can be said that every time the time is pushed back by one day, Austria's advantage will increase by one point.Especially after the annexation of the German Federation, there will be a qualitative leap.

In order to achieve his goal, even the "garrison against France" was used by Franz as a negotiation condition.

To ensure the normal performance of debts, there must be a garrison.Otherwise, if the French government violated the contract, there would be no more anti-French war, right?

It's just that the number of troops stationed is a problem. "Not less than 50" is definitely impossible. If there are so many troops in France, let alone the revival of France, the poor French can be eaten by just food.

If military discipline is a little bit worse, then the French government doesn't have to do anything, just do the aftermath for the garrison every day.

If the British want to maintain their vitality for the French, and imagine that France will make a comeback, they must suppress the number of troops stationed in the Anti-French Alliance.

Foreign Minister Weisenberg: "Your Majesty, other issues are easy to discuss, but the British may find it difficult to agree to the French indemnity as a financing guarantee.

Even if the countries of the anti-French alliance provide security endorsements together, it can only guarantee that the French government will not maliciously breach the contract.

Judging from the current situation, it will take a long time for France to recover its economy after the war.If the economy does not recover, the government will have no money to repay its debts.No money in pocket, no one can do anything.

Not long ago, the German Federal Government proposed the transfer of creditor's rights. The London government required the governments of the states within the German Federation to guarantee in advance to ensure that the French can pay compensation normally before accepting the transfer of creditor's rights.

Obviously, the British are aware of the risks, and it is not easy to trick them. "

As the protagonist of the war, no one knows what the French have lost in the war better than the Vienna government.

According to the "Draft on the Handling of the Law" drafted by the Anti-French Alliance, unless the French collectively open up, it is only a matter of time before the debt defaults.

If the guarantee is accepted, once the French default on their debts, will the British pursue the debt, or not?

The debt collection undoubtedly stabbed the French, pushed them into the abyss, and cut off their chance of making a comeback.

Not collecting debts has indeed helped the French, but the capital will not agree.The financial consortium doesn't care about the overall situation, and debt repayment is a must.

Franz shook his head: "It doesn't matter, there is no need for the British government to agree, as long as the financial institutions that provide us with funds approve it.

Only high risks can lead to high returns. If the interest rate is increased, the bankers will not be tempted.

Moreover, we also provide a debt security guarantee.If the French government is really unable to repay, all countries will also be jointly and severally responsible for repayment.

Anyway, the money borrowed is not their own, as long as the interests are large enough and there are enough reasons to convince investors, they will not mind taking risks. "

Things are definitely not as easy as Franz said. The premise of "joint and several liability for repayment" must be that the French are unable to repay.

The mere determination of "insolvency to repay" is a huge pit.Repaying debts in cash is repayment, and paying off debts in kind is also repayment.

If you are in a hurry, you can also set aside a piece of land from the mainland of France to cover their debts.

Chapter 232 Take What You Need

"300 million!"

"310 million!"

……

"375 million!"

"375 million Aegis, is there a higher bid?"

"The world's most advanced cruiser fleet comes with a full set of shipbuilding technology and 20 professional technicians. Now the highest price is 375 million. It is absolutely worth the money. Is there anyone else bidding?"

"Okay, congratulations to the representative of Chile, who successfully won the third cruiser formation."

The host West felt hard.

In order to be able to sell these warships at a high price, the second-hand cruiser fleet of the French has become the most advanced fleet in the world in West's mouth.

If you only look at warships, the Chileans must have lost a lot of money in this deal.However, there are exceptions to everything. After a full set of shipbuilding technology and engineers are included, the deal is very cheap in an instant.

Don't look at the fact that there seems to be no technology blockade these days, as if you can buy anything with money, but that's just for ordinary bad street technology.

Warship manufacturing technology has always been the treasure of major shipyards. Even if it is two or three generations behind the technology, it will cost a lot to buy it.

As the world's second naval power, the French's shipbuilding technology is naturally world-class.If it weren't for the split auction, many copies of the technology would have been copied, and these technologies alone would not be available for 375 million.

Another deal was done, and Waiters lost his initial excitement.He picked up the cup, took a sip of water to moisten his throat, and continued to shout:

"The battleship formation of group A will be auctioned below, and a full set of shipbuilding technology will also be provided. In addition, 100 shipbuilding engineers will be added. The fleet includes 3 new 4-ton battleships, 6 cruisers, 2 destroyers, and [-] coastal defense ships...

The starting price is 580 million Aegis, which is still the old rule, and the price increase should not be less than 1 Aegis.If the price is called indiscriminately, the deposit will be confiscated directly, and the Anti-French Alliance reserves the right to pursue responsibility. "

As soon as the voice fell, the Spanish representative immediately became energetic.There is no doubt that this carefully selected fleet is their goal this time.

"600 million!"

"630 million!"

Seeing the Spaniard's offer, Ito Hirobumi, who was not far away, decisively chose to keep up.Although he knew that the Spaniard would operate in the dark, he was still unwilling to give up his last effort.

Before the auction started, delegations from various countries sent people to visit the French warships. It can be said that everyone is well aware of every group of warships put up for auction.