The Son of Finance of the Great Age

  Chapter 774 The Greek Riot (4)

   It has to be said that the timely measures taken by the Greek government are correct.

   Just four days later, on April 27, the last remaining large rating agency, Standard & Poor's, took action, and this time they did it even more ruthlessly.

   Standard & Poor's directly lowered Greece's sovereign debt from the previous BB- to B+, which means that the possibility of default is higher than that of BB, but the issuer is still able to repay the debt. However, deteriorating commercial, financial and economic conditions may weaken the ability and willingness of debt issuers to repay their debts.

   Compared with the BB level, this wording is more severe. That is to say, it is clearly pointed out that the subjective will of the bond issuer may breach the contract. In layman's terms, the debt issuer may not pay back the debt!

   This level directly reduces the credit of the Greek government to the junk level!

   "We must reach an agreement as soon as possible!"

At a parliamentary meeting on deflationary deflation, Greek Prime Minister Papandreou mobilized emotionally, "Gentlemen, there is a second shock to our country. As you know, although the European Commission has urgently provided A loan was given to us to help repay the debt due in May. But this is far from enough. If we cannot carry out thorough reforms, the financial situation of our country and government will not be fundamentally improved. When it comes to the IMF, even the EU may lose confidence in us."

"If that were the case, we would lose not only the only partner who could support us, but also the entire European market, and even be forced to exit the euro zone. It can be said that the result is disastrous, and the entire Greek government and The public cannot bear it. So gentlemen, no matter how harsh the fiscal austerity policy is this time, please pass it when you vote!"

"To put it bluntly, you have only two options at the moment, one is to 'bankrupt the country' and the other is to 'save the country'. Apart from that, there is no third option. Greece has reached a point of life and death, and the government is currently Forced to make further cuts to people's incomes and benefits. These sacrifices will give Greece time to breathe and make significant changes."

   "Wait, Mr. Prime Minister!"

  A congressman pressed the microphone in front of him and asked before Papandreou, "You have said so much, I want to know, what is the situation of the new fiscal austerity policy?"

  According to Papandreou's current statement, everyone here can hear that this new fiscal austerity policy will be greatly changed compared to the previous ones.

"Uh…"

After being robbed, Papandreou was silent for a while, and finally did not answer the question directly. Instead, he explained, "Gentlemen, the requirements given by the EU and the IMF are very strict. Although we have done our best to negotiate, But there are still conditions that we, the people, will look to be very harsh."

"what exactly is it?"

  The congressman pressed the microphone again, accusing the other party unceremoniously, "I need to know the specific details and content, not what objective difficulties you are talking about. As for the difficulties, all of us here are very clear."

   "Okay, here's our new draft austerity policy!"

  Looking around, Papandreou found that not only the congressman, but most of the congressmen present were looking at him inquiringly, including the congressmen of their party, which made him realize that he could no longer be sloppy. At that moment, he took out a stack of thick documents, put them up high, and said to everyone, "To put it simply, in this round of fiscal austerity policy, we will freeze wage growth in the public sector until at least 2014 year!"

"what?"

   "Are you crazy?"

  As soon as his words came out, it immediately caused an uproar among the people below. Members of Parliament no longer cared about etiquette and began to discuss this policy.

   "And so much more!"

Papandreou sighed inwardly, knowing that once the announcement was made, it would definitely cause such consequences, but since he opened the bow, there was no turning back, so he coughed lightly to suppress the discussion, and then continued to announce "The cuts in the public sector are much more than that. Civil servants with a monthly income of more than 3,000 euros will no longer receive a year-end bonus. People whose income is below this amount will receive a year-end bonus of 1,000 euros."

   "Gentlemen, don't discuss it yet, there are other terms below!"

Before the congressmen had yet to fry the pot, Papandreou continued, "In terms of tax rates, we will increase the tax rate of value-added tax. In the fuel, tobacco, and alcohol industries, we will also increase the relevant tax rates. In addition, The retirement age will also be postponed accordingly, and the pensions received by retirees will also be greatly reduced."

   "In addition, in the field of private enterprises, we will promote the revision of laws and relax the restrictions on layoffs. This move will help enterprises better get rid of cost pressure and develop better."

   "That's all there is to this austerity!"

Papandreou said while the iron was hot, with a look of relief on his face, and said to many congressmen, "The specific terms and content will be issued to you soon. Gentlemen, you will have a week to decide whether to pass this plan." But what I need to explain in advance is that if it is not passed in the vote of the members on the 5th, the aid from the EU and the IMF will be suspended immediately.”

   "I disagree! I strongly disagree!"

As soon as Papandreou finished speaking, a gray-haired old man stood up and said sonorously, "If this plan is passed, it will mean that the entire Greek welfare system will fall apart. How can you tell the voters Confession?"

   "In addition, I personally express my strong protest against your behavior of reaching an agreement with the EU first and then discussing it in Parliament."

  He continued angrily, "You are bypassing procedures and oppressing our sacred parliament in public opinion. I personally express my strong protest against this."

  Seeing his speech, many congressmen felt tense and frowned involuntarily.

   Kirstans Karamanis, the leader of the New Democratic Party, and the New Democratic Party is the largest opposition party. Not only that, he himself was the former prime minister and was once Papandreou's greatest enemy.

  He is 60 years old now, and has reached his sixtieth year. Despite his pre-election defeat a few years ago, he still has unrivaled prestige within the NDP.

   "About this, Mr. Karamanis, you don't have to worry too much. If our bill fails to pass the parliament, the agreement with the EU will also be invalidated!"

Papandreou explained lightly, "About this, I need to explain. My colleagues and I did not bypass Congress, this is just a stopgap measure. All the results still depend on the gentlemen here, on the your selves."

   "I'm still firmly opposed!"

   Karamanis retorted without hesitation, "Even so, I still object. Gentlemen, do you understand what the situation is?"

He stood up tremblingly, pointed at Papandreou and said in a loud voice, "Gentlemen, do you know how today's situation is caused? Yes, this is caused by this government. Everything today is caused by this government." Now, he and his colleagues are trying to push this fault to the people, to the great Greek people. You say, there is such a government? Is there such an excuse?"

"Gentlemen, now is not the time to discuss fiscal austerity, but how to hold this government accountable! If they are still in power, the problems will continue, corruption, inaction and other troubles will still exist. Not only me If you don’t agree, the New Democratic Party won’t agree, and even tens of millions of Greek people won’t agree!”

"I suggest that the impeachment process should be launched immediately, and the current government should be held accountable. On this basis, a vote of confidence will be held, and the result of the vote will determine whether the prime minister will step down. Gentlemen, we are representatives of the parliament, representing people from all walks of life , don’t forget our mission. We are for the well-being of the people of this country, not exploiting them over and over again.”

   After finishing speaking, he ignored Papandreou, whose face was sinking like water, and walked away resolutely.

   Following his departure, many MPs from the New Democratic Party also stood up and followed him without looking back. Immediately, the entire venue was half empty.

"it is finally over!"

   Right after he left, many people secretly breathed a sigh of relief. As expected, this austerity program will inevitably fall into partisanship.

   But even if Karamanis leaves now, this plan may eventually be passed in Congress. After all, Papandreou's party is now the largest party and occupies the majority of seats in Congress. But whether it will be implemented smoothly in the end, how the public will react, etc., these are all realistic issues.

  The hearts of everyone here are heavy.

  …

   "Get me the heads of the three major associations!"

   Angrily returning to his office, Karamanis yelled at his assistant, "God, they are really deceiving people."

  The young assistant originally wanted to say a few words of greeting, but when he saw Karamanis' livid face, he shut up wisely and quickly picked up the phone.

   Not long after, the three union chairmen whom Zhong Shi had met a few days ago were all waiting online.

   "They're going to do it!"

  Karamanis was still furious, but when speaking to the three of them, his tone softened a lot, "They will introduce the most stringent fiscal austerity plan in history. Not only civil servants, but also private companies are involved."

   Before the three of them asked anything, he took the initiative to tell the contents of the congressional briefing meeting.

   Naturally, none of this is illegal. Because soon, the news will spread throughout Greece.

   "What are they doing here?"

  Christodo Samaris asked puzzledly, "This plan not only offended the labor group, but also offended the civil servants. Do they really expect this plan to be implemented smoothly?"

  The other two did not speak, they were still digesting the shocking news.

   "That's how it is!"

Karamanis went on to say, "Although we will do our best to snipe, but because they control a huge majority of seats in Congress, the probability of passing is very high. So I need you to do something, something that may change some members of Congress. move!"

   "National general strike?"

  Christodo Samaris understood instantly, and asked tentatively, "Is that so?"

   "That's the only way!"

Karamanis replied without hesitation, "In addition to you, I will also persuade other trade unions. God, the innocent Greek people must not be allowed to pay for the government's mistakes. This is absolutely not allowed, this is naked crime!"

   Naturally, all three agreed. It is impossible for them to do nothing about matters that involve the interests of their own class.

   "Is everything Zhong Shi predicted will finally happen?"

  The three people who hung up the phone all thought in unison. They have added a new layer of understanding to the prediction ability of international financial players.

  Following this level of awareness comes a deep and unabated fear.

   Thanks to book friends apo11o and Nanquan 99 for voting monthly! Thanks to the electromagnetist for continuing to reward! Thank you very much for your active support, I finally saw a little hope. I hope that all book friends will continue to work hard. At the end of the month, we will continue to vote hard. If you don’t have a monthly pass, don’t forget to vote for recommendation. I hope this book can come out of the downturn as soon as possible. The results of this book require everyone’s joint efforts, thank you very much~

  (end of this chapter)