Rebirth: Super Banking System Chapter 2318 - 2138: Going Big
Previously on Rebirth: Super Banking System...
The next day.
Early in the morning.
As folks stirred from sleep, Greece's massive debt reaching three hundred billion euros exploded across worldwide news, and right then, countless individuals finally turned their eyes to this nation.
But.
Netizens from Huaxia largely felt puzzled.
"Three hundred billion—does that even count as much?"
"Yeah, spot on."
"It's a whole country, after all."
"..."
Greece.
In people's minds, it came across as incredibly rich. While three hundred billion euros wasn't a tiny sum, it hardly seemed like it could bury Greece, did it?
Last year.
Iceland had gone under; that made sense since its base was truly fragile, nowhere near Greece's scale. Yet, it didn't take long for everyone to grasp the reason behind the repayment failure.
"Damn it!"
"These folks are way too extravagant!"
"They deserve it."
"Without the means, they still keep borrowing nonstop."
"..."
A wave of scorn swept through.
Three hundred billion euros in debt meant yearly interest alone could hit one or two hundred billion, and after the Greek government's taxes covered essential costs, they couldn't even scratch half of it.
That's the situation.
It all blew up right now!
"Seriously, they've squandered it into ruin," one person lamented. "Generous perks aren't bad, but letting them balloon without control is basically suicide."
"Insane."
"Totally, back in the eighties, Greek public servants totaled just a hundred thousand, but now they've swelled to eight hundred thousand—almost a tenth of the entire population."
"What sort of madness is that?"
"You got it."
"Tail too heavy, impossible to topple."
"Borrowing wildly, splashing cash everywhere... so jealous. At this pace, they might trail Iceland's path, though I bet the European Union won't just watch from the sidelines."
"Yeah!"
"..."
The group buzzed with lively chatter.
Even with the envy.
Still.
Messing it up this badly isn't ideal, and sure enough, Greece's perks outshine others—like retirement pensions that double Germany's.
Damn!
Germany, loaded as it is, struggles with sky-high retirement pay, while Greece, with its middling economy, not only matches that but also leads in civil servant salaries.
Europe's finest.
In essence.
To seize control, one leader after another focused on a single tactic: vowing lavish rewards to voters. Once in charge, they'd brazenly borrow from all sides to uphold those promises.
Today.
The debt has soared beyond endurance.
...
Base.
Room.
Having breakfast.
"Tangtang, will the euro plummet?" Tang Kai fired off the question upon spotting the report; for the European Union to ignore such a huge issue would be downright odd.
Yet.
Getting tangled in it spells trouble.
At those words.
Tang Qing gave a light nod.
"It's bound to fall; expect chaos in the stock and forex markets for a good while ahead—better convert your euros to cash without delay."
If it held steady.
This headline wouldn't pack such a punch.
"How long before things settle?" Qin Yugang inquired with interest.
"Hard to say."
Tang Qing shook his head.
"Since the Greek mess uncovers not just Greece's woes but deeper flaws in the eurozone; plenty of countries there survive on loans too."
Greek debt.
Serves merely as the spark for the broader European debt storm.
Without that.
A lone Greece imploding wouldn't arm the critics enough to tear down the euro.
Ireland.
Portugal.
Spain.
Italy.
Cyprus.
...
Numerous European nations grapple with heavy debt burdens, and amid the worldwide economic slump, they'll unravel one by one.
The euro will plunge hard, with European stocks tanking right behind.
"Crisis blowing up bigger?" Tang Kai burst out.
He'd figured.
It was merely Greece's headache.
"Yes."
Tang Qing confirmed with a nod.
"What's the end result?" the uncle pressed further.
"Firstly."
"The European Union will intervene; that's a given, as letting it slide would likely rattle the euro framework and endanger the bloc's unity."
He paused.
"Secondly."
"The storm's too fierce to hide—it burst wide open."
Hearing that.
The others exchanged stunned glances.
"That chance seems slim," Tang Kai noted. "The European Union's debt woes are an inside matter; with real resolve, they can handle it."
"Yeah."
Qin Yugang agreed with a nod.
Within a shared currency zone, the room to maneuver is huge; Greece's debt falls well within the European Union's power to tame, though the ride will hurt.
Take on fresh loans.
To clear the old ones.
Or even.
Simply forgive chunks of it; after all, it's fiat money—worst case, print extra; following America's easing spree, the globe's flooding with cash anyway.
Crank out bills like mad.
Thus.
No matter what, the eurozone stays intact.
At this.
Tang Qing cracked a smile.
"True enough."
"The odds of the eurozone breaking apart are tiny."
Meanwhile.
He tacked on a thought inwardly.
"But that's assuming no one's pulling strings. Handled right, a rare mishap can twist into a surefire black swan disaster."
True.
Every European Union member dreads a eurozone split and will fight tooth and nail to prop it up. Still, over the years since its birth, the zone has piled up tons of issues.
Such as.
Uneven perks across nations.
Germany.
France.
These twin pillars of the European Union generate riches dwarfing the rest, yet their own perks lag behind certain partners.
Take Greece.
It rakes in little revenue but burns through piles, retires young, boasts endless handouts—and worst, retirement pay that's a whopping double others'.
And the like.
Inside, gripes have simmered for ages.
So.
When crises erupt big-time, will Greece slash retirement funds? Cut them, and riots erupt at home, the leader topples in a flash.
To dodge the fall, cling to fat perks.
But refusing cuts.
Keeping spending high won't fly with others, since you're using their loans for your luxuries—resentment will roar.
In his prior life.
This snag never detonated.
But.
Now.
It turns into a blade.
Naturally.
Just one blade; Tang Qing won't bet everything on sentiment—the simplest to steer is public mood, but it flips quickest too.
Hence.
This acts as mere 'spice'; the true feast lies elsewhere. Yet history will etch only the 'spice' as the story.
The facts.
Will sink into the past, forever hidden.
"Euro."
"It... has to crumble once."
Right then.
Tang Kai perked up.
"So, does this open doors to snag some deals?" Every crisis births winners who cash in—that's crisis at its core.
Economy.
Finance.
Both offer playgrounds to work.
"Yes."
"Dip in lightly, but don't go all-in," Tang Qing advised. Profiting off the European debt turmoil is key, but he'd stay hands-off personally.
This round.
Aims for the grand scale.
On that note.
Tang Kai's enthusiasm faded.
"From what you say, I'm losing the spark—better stick to legit business for gains, each yuan earned clean and bright."
These days.
His fortune had ballooned beyond old dreams; dabbling in financial bets felt pointless, with finite time—why court headaches?