Germany Conspire &Nbsp, Or Let Greece Go Bankrupt.

At the meeting of finance ministers and central bank governors held last weekend, the participating countries agreed to attach importance to the European debt problem, and promised to take account of the fiscal and economic development of G7.

Meanwhile, in September 11th, Greece solemnly declared that it would implement new economic austerity measures.

However, because of the powerless speech and initiatives of the decision-making level, the market did not buy the two "positive" benefits, and investors' confidence collapsed further.

Not only Germany is preparing for debt default, but other countries may be preparing for it. "

During the Mid Autumn Festival, China is immersed in a peaceful atmosphere of festivals.

However, Europe is still lost in the tide of risk aversion.

Moreover, this risk aversion will be further aggravated.

Because Germany may have prepared a heavy mid autumn gift for Greece: let the country go bankrupt!

According to foreign media reported on September 12th, German finance minister Schauble is preparing for Greece's possible bankruptcy.

German officials are currently assessing several cases of Greek default, including keeping Greece in the euro zone, or letting Greece withdraw and re-use the Drake.

German economic minister Roessler said, "in order to stabilize the euro, there should be no more taboos.

If necessary, Greece can be allowed to go bankrupt in an orderly way. "

According to German officials, the German government is preparing to support the German bank's plan to prevent Greece from meeting the aid clause and default.

"It's not just Germany.

In September 11th, Greek Prime Minister Papandreou refuted rumors that Greece would withdraw from the eurozone and default, and said Greece would repay all its debts.

He also said that his government would make full use of structural reforms and strive to get rid of the debt crisis and achieve economic stability and growth by 2013.

In the next two years, the Greek government will fulfill all commitments to reduce fiscal deficits and promote economic growth.

On the same day, Greek finance minister Venizelos announced a new deficit reduction plan, which aims to make the international loan institutions satisfied and get a new loan by collecting a new tax on real estate to make up for the gap of the 2011 budget.

Venizelos said the move could increase revenue by about 2 billion euros for the government.

The European Union member responsible for economic and monetary affairs, Ryan, welcomed the Greek decision.

However, a banking analyst said in an interview with reporters, "the Greek government's backsliding on the deficit reduction has made the market seriously lack of confidence. It does not exclude Greece from expressing its repayment again after obtaining the next loan.

From now on, there is hardly any substantial positive market news for Greece, but it is likely to further crack down on global financial markets in the future.

Eurozone collective

European principals are always accustomed to overly optimistic about the situation, but the reality is always moving forward in their opposite direction.

Apart from Greece, the situation in other countries in the euro zone also stirred market anxiety.

In September 12th, foreign media quoted people familiar with the matter as saying that the credit rating of the three largest French banks, the Bank of France, the Societe Generale of Paris and the Credit Bank of Agricole, may be lowered by Moodie, an international rating agency.

In June 15th, Moodie placed the 3 banks on the down watch list because of the large exposure of these French banks to Greek sovereign debt.

Audia, President of Societe Generale, said in a French television interview that French banks are still sound based on the buffer capacity and performance of French banks.

Audi emphasized that even if Greece failed to repay its debts, the French banking industry could still survive.

Despite the full confidence of French banks, analysts pointed out that Moodie's chances of reducing the ratings of France's three largest banks are not small. "On the one hand, the recent development of the euro zone debt crisis has triggered a high degree of concern for the European banking industry. On the other hand, the Greek government's latest commitment is hardly convincing.

European principals are always accustomed to overly optimistic about the situation, but the reality is always moving forward in their opposite direction.

Stark, a member of the ECB Executive Committee and chief economist, resigned unexpectedly because he did not agree with the central bank's policy of buying government bonds to deal with the debt crisis.

As Stark's top official in the European Central Bank, his resignation highlights the growing complexity of the eurozone's resolution of the debt crisis.

In September 6th, the Swiss central bank announced that the minimum level of the Swiss franc against the euro would be 1.2 Swiss francs to 1 euros. If the Swiss Franc rises above this level, the Swiss central bank will buy foreign currencies indefinitely to stabilize the exchange rate.

Moodie pointed out that the policy of the Swiss central bank's exchange rate restriction may not be conducive to the improvement of the European debt crisis.

After the Swiss central bank throws the Swiss franc and buys the euro, it is likely to buy German bonds. The spreads between the marginal countries and Germany will further widen and the financial market will become more volatile.