Holy Roman Empire

The bubble was burst, and Shinra, the economic leader, suffered the most; Britain, as the second largest industrial country in the capitalist world economic system, naturally suffered the second largest loss.

It doesn't matter whether the two countries are already facing each other politically, but economically everyone has long been tied together. The Shenra Empire’s economic bubble was serious, and Britain’s economic bubble was not far from it.

In fact, the crisis should have erupted after the end of the European War, but it was suppressed jointly by all forces.

The Vienna government took measures, and the London government was not idle. When the Gladstone cabinet was in power, Britain’s diplomatic strategy almost collapsed. If economic prosperity disappears, it is estimated that the British people will tear them up.

The cabinet wants to pass the final term of office safely, and the consortium needs time to retreat. The two sides hit it off, artificially creating a virtual economic boom in the second half.

The economic crisis that should have erupted in 1893 has been dragged to the present. If it were not for the thunderstorm in the Vienna stock market, the crisis is expected to continue in the future.

In this context, Robert Cecil, who had just taken office, was tragic. The stock market crash came before the **** was firmly seated, and the economic crisis was about to break out.

The UK implemented a free economy these years, and the government cannot interfere in the market. Of course, just listen to this, if you are serious, you will lose.

Failure to directly intervene in the market does not mean not intervening at all. In fact, the government's economic policies, laws and regulations are all important factors affecting economic development, and the difference lies only in the degree of interference.

Including tax rate adjustments, social relief, joint consortiums to save the world, launching foreign wars and transferring crises, etc., are all part of government intervention in the market.

"How is it, did the consortium agree to rescue the market?"

No matter that Prime Minister Robert Cecil was not in a hurry, since the economic bubble was burst, the London stock market has followed in the footsteps of the Vienna stock market and started a continuous downward pattern.

Unlike the conservative country of Shinra, where a large group of family companies are holding their shares tightly and not going public, Britain is the most developed country in the financial industry, but all companies that scale up are listed companies.

It is easier for listed companies to obtain financing, which is conducive to speeding up the development of enterprises. The sequelae is that enterprises are affected by stock price fluctuations.

The management model of professional managers seems very scientific, but the company's money is not its own after all. In order to obtain higher returns in the short term, corporate management is usually more aggressive when formulating strategies.

Fortunately in normal times, once the stock price drops sharply and corporate financing becomes difficult, radical development strategies often lead to a break in the corporate capital chain.

In contrast, non-listed, conservative family companies prefer to be steady. Although the speed of development has been a little slower, the company itself rarely has large debts and maintains a sufficient flow of funds most of the time without the risk of breaking the capital chain.

The most important thing is the large companies that are not listed. They are usually high-quality companies with good profitability and strong market competitiveness. They have the strongest ability to resist risks.

For details, please refer to the Royal Consortium of Wenfranz. Most of the listed companies are high-risk technology companies, or companies with insufficient profitability and uncertain development prospects, and companies whose development potential has touched the bottleneck of the industry.

Companies that are truly profitable or are in a stage of rapid development are all nestling down and making a fortune. When did they reach the bottleneck of the industry ceiling, when is the time to go public.

Whatever grows together and shares together, just listen to this kind of deceit. Isn't it good to hold a high-yield transaction that makes a steady profit without losing it? Why do you want to share it?

Perhaps some companies have done it, but such companies are rare, and there are only a hundred and eighty of the thousands of listed companies, and most of them have performed mediocre after listing.

Companies that have been able to operate stably, outperform inflation, keep up with the country's economic development, and have no thunderstorms are all conscientious companies.

If all these high-quality companies under the audience are listed, even if the valuations given by the market are low, the size of the two major financial centers of Vienna + Frankfurt cannot be smaller than that of London with the economic volume of the Holy Roman Empire.

In this context, the Holy Roman Empire, where the stock market fell the most, suffered less economic impact than Britain's.

Minister of Economy Aquina shook his head: "It is a pity that they rejected our proposal. The consortium believes that there is still a bubble in the current stock market, and there is a very big risk of rising stock prices, and we need to wait.

If the government really wants them to invest in bailing out the market, the consortium has also put forward a condition, that is, they must work with Vienna together. They are worried about being profited by others. "

Robert Cecil frowned, and said angrily: "Wait a minute, the company will go bankrupt, and the city will be saved. They will fight with Vienna, but they can't figure it out.

The current situation is very obvious. After the European War, the Holy Roman Empire has experienced major economic problems. It is now in an economic adjustment period. If there is this stock market crash, they will have an economic crisis.

And we are different, just the hapless guys implicated in. If you can't stabilize the stock market, you must accompany them through the economic crisis.

If you don’t drag everyone into the water, it’s no wonder that the Vienna government will rescue the city. Now they can’t wait to drag everyone down to share the loss for them. "

It's no use complaining. There is not only British capital on the London stock market, but also capital from continental Europe.

If the parties fail to reach an agreement, the British consortium will rescue the market, and they will take the opportunity to sell, and they will become the catchers.

Although the capital of the European Union began to flow back since the beginning of the year, only a small part of their huge volume has flowed out.

After the outbreak of the Vienna stock market crash, the British consortium took advantage of the local households to take the first step and give international capital a head.

Now they have to consider the issue of saving the market, they naturally worry that others will follow suit. If you spend a lot of money to get the stock price up, and others take the opportunity to run away, they will be forced.

After all, a consortium is not a panacea. In the deceitful capital market, anyone must be cautious, or they will be eliminated by the market sooner or later.

Moreover, although a large number of corporate bankruptcies are very unfavorable to the country, it is a capital feast for the consortium. They can completely take advantage of the opportunity of corporate bankruptcy and reorganization to earn some high-quality corporate income at the price of cabbage.

...

It's not just the British government that has a headache. All the capitalist industrial countries have a headache in the face of the hob meat that wants to pull everyone into the water.

In the past, countries were criticizing the Vienna government for interfering in economic freedom. This time there is no need to spray, but the result is even more unacceptable.

The Vienna government finally followed the natural laws of the market economy once, and as a result everyone was dragged into the economic crisis.

In fact, Franz is also very embarrassed now. If possible, he is not willing to have an economic crisis now. But there is no way, the economy of the Holy Roman Empire has gone wrong unknowingly.

Especially in the northern states, not only is the industrial development uneven, there is also a large amount of overcapacity. For example: railways and construction are the two hardest hit areas.

After the end of the European War, I don't know who made the idea, and several northern states have played with major infrastructure. There was no problem with infrastructure, but the problem was that they had done a lot of unnecessary infrastructure.

The repeated construction of railway lines and branch lines even penetrated into the villages, and the blooming real estate projects are simply not practical water conservancy projects.

If it hadn't been for the outbreak of the economic crisis and the government of the Kingdom of Prussia declared bankruptcy, Franz would not have known that anyone would be so happy.

In fact, even if he knew it in advance, he couldn't interfere. State autonomy is not just for fun. How to develop the economy is the freedom of others, and there is no need to report to the emperor.

The only good thing is that the North German region had a poor harvest last year. Yes, the lack of food at this time is also good, at least for now.

If there is a bumper harvest of grain, Franz will also consider the problem of surplus of agricultural products. After all, after the economic outbreak, people have to tighten their belts, even for rigid demand products such as food, sales will decline.

The lack of grain harvest in the north last year at least guaranteed the stability of the imperial agriculture. As for the subsequent impact of the lack of grain harvest, they are all minor problems.

Except for the Kingdom of Prussia, which became poor due to the Russian-Prussian War, the economic conditions of the other northern states are very good, otherwise they have no money to make things.

Since the outbreak of the economic crisis, with the exception of Wilhelm II who came to Vienna to ask for help, the other states have only sent a few telegrams to complain about difficulties, and cried out for money.

It can be seen that they are still able to hold on for the time being and are unwilling to allow the central government to intervene in the internal economic problems of the state.

This kind of worry-free little brother, Franz is the favorite. As long as it doesn't cause trouble to the central government, who wants to interfere in the internal affairs of the state if it is not fed up?

Regardless of whether they are killed or not, just from the results of economic development, these state governments have done better than most of the provinces directly under the Central Government.

In the Kingdom of Prussia, the problems left over from history are too serious, and the huge indemnities brought about by the war have affected domestic economic development.

But in general, the economy is recovering pretty well. Although I lag behind my neighbors a little bit, the per capita income surpasses Spain and Russia, and is about to catch up with France before the war.

Although the impact of the economic crisis is great, it has only just begun, and it is far from the most difficult time. With the family background of the Kingdom of Prussia, even if it can't hold it, it won't kneel in the first wave.

In particular, the Kingdom of Prussia suddenly declared financial bankruptcy without any warning. Under normal circumstances, they should seek help from the central government before declaring bankruptcy.

Even if it is for the sake of the empire's face, as long as the funding gap is not too large, the Vienna government will give them a hand.

The reality is quite the opposite. Before the government declared financial bankruptcy, apart from tossing out a bunch of unfinished projects, it did not seek assistance from Vienna at all, as if it was bent on bankruptcy.

After the Berlin government declared financial bankruptcy, Wilhelm II jumped out and ran to Vienna crying and selling, which was obviously abnormal.

Today is different. As a member of the Holy Roman Empire, Prussia has the ability to bargain with the British.

Franz has every reason to believe that the Prussian government deliberately bankrupted itself, and the economic crisis only provided them with a "bankruptcy excuse."

Even if there is no such economic crisis, they will use other excuses to go bankrupt after a while, for example: the government's capital chain is broken, and they are unable to pay for the project...

After all, the Prussian government now has many benefits from bankruptcy! For domestic economic problems, you can turn to the central government for help, and the Vienna government cannot sit idly by; the debt owed to the British that will not necessarily be able to be paid off in the next century, can also request debt restructuring reasonably.

The Kingdom of Prussia also has a history in this regard. When the "German Federal Government" went bankrupt a year ago, the Berlin government followed suit.

Unfortunately, in the end, the British only accepted the transfer of claims from the German Federal Government. After all, the German Federal Government was a government that did not sign the contract today and will be dissolved tomorrow. In order to avoid finding the debtor, the British can only pinch their noses to admit it.

The Kingdom of Prussia is different. Even if the government is dissolved and the king is still there, it is impossible for William II to lose the throne because of debts. As long as the country is still there, the government is gone and the government is reorganized. Anyway, the debt owed will not run away.

In addition, the Holy Roman Empire was still being formed at the time, and there was no central government to protect it from the wind and rain. The Berlin government could not withstand the pressure exerted by the British.

Now it's different. As long as the Berlin government is thick-skinned, the British can't do anything about them.

The "collateral" of debt?

No problem, although send someone to pick it up, and promise to cooperate fully.

Tariffs are now collected by the central government. As long as the British think they can take away the tariffs from the Vienna government, there will be no problem.

Ports and docks, although in the hands of the Kingdom of Prussia, involve territorial sovereignty, which is also the work of the central government. To talk is to go to the Ministry of Foreign Affairs, as long as the Vienna government is willing to agree to all negotiations.

The right of coinage, that also belongs to the central government. If you want to discuss with the Ministry of Foreign Affairs, the Prussian government as a local government has no right to intervene.

...

In short, after the debt default, the Prussian government once signed a series of mortgage contracts with the British, but now none of them can be implemented.

Although these treaties were still legally valid before the establishment of the Holy Roman Empire, they had to negotiate with the Ministry of Foreign Affairs of the Empire if they wanted to fulfill the content agreed upon in these treaties.

"Intentionally failing to account" and "no money to repay the debt" are two completely different concepts. The former will be despised by the international community, and the latter will be over as long as the collateral is handed over.

Now, as long as William II is willing to put down his face, make a posture willing to hand over the collateral, and then push the problem to the Vienna government, the matter will be over.

In the end, it was the British who compromised. It was the Vienna government who paid the debts for them. These problems don't need him to have a headache.

Knowing that it was trouble, Franz had no choice but to bite the bullet and take it. No matter what the reason, he, the emperor of the Empire, cannot allow the loss of national sovereignty.

Thinking of this, Franz wanted to beat the keyboard guys to death. Who said that William II was stubborn, and that the political tactics of others were playing smoothly.