Chapter 271 Argentine National Debt
At nine o'clock the next morning, Tianxiu Group Building, Huangpu District.
In the office of the general manager on the 9th floor, Park Ruo was sitting in front of the computer and staring at the K-line picture on the screen. The golden sunlight outside the window shone through the glass on her side face, and the light emitted was as dazzling as a rainbow of seven colors.
After about three minutes of motionlessness, a rhythmic knock sounded from the aluminum alloy office door. After waiting for about a few seconds, the door was unscrewed from outside. A girl wearing a black professional suit and sweet-looking face walked in with a casual outfit.
"Mr. Park, the chairman is here."
Park Ruo, behind the desk, reluctantly pulled her eyes from the screen, looked at Guan Qiu, who was smiling behind the secretary, and turned to the secretary, "You go down first!"
Before the secretary left, Guan Qiu instructed: "Here you help me make a cup of black tea."
"Okay Chairman." The secretary girl responded, and secretly spitted her pink tongue when she turned around.
She has been working in Tianxiu for more than 7 months, and this is the first time she has seen the boss behind the scenes. When she was outside just now, she almost rude because of the other person's age.
After the secretary left, Park Ruo stood up and took Guan Qiu to the east-west reception area to sit down, and asked with a calm look on his face: "If you have nothing to do, don't go to the Three Treasures Palace, tell me, what's the matter with me?"
Guan Qiu said with a funny look: "What, are you planning to remove me from the list?"
What he means is, as the company boss, how can you come to your own company be considered as "not entering the Three Treasure Hall without any trouble"?
Park Ruo was so angry that she couldn't find a way to tell her. Guan Qiu's words made her angry and said with a cold face: "You still know your identity."
Guan Qiu was a little inappropriate, but he still said: "Isn't this the foundation too weak? I want to take advantage of this market and I don't care about the company's affairs."
Park Ruo endured it again and again, but in the end he couldn't help it and said, "So you are the groom every day and enter the bridal chamber every night?"
"Uh...this..." Guan Qiu touched his nose and stopped talking. He didn't want to defend his behavior.
There is no way to find anyone in this world who can understand his mood.
Some people say that money has reached a certain point and is just a string of numbers on the bank card. He can say with certainty that this person is a big liar.
When wealth growth rate exceeds that of the money printing machine, adrenaline will soar rapidly and will remain at a high level. It is like stepping on cotton under your feet, and the whole person is like floating in the clouds.
Those who were "born in Rome" may be more familiar with such experiences, but the corruption in the upper class was not fabricated out of thin air. This is a typical symptom of spiritual emptiness caused by wealth.
Moreover, in the future that can be seen, his wealth will increase by a factor of a tremendous increase. In this case, he will live a strict and self-disciplined life like a Puritan, which is a dream.
Seeing that he was not going to explain his behavior, Park Ruo couldn't help but look disappointed on his face.
"Tell me, come here to find me something." Park Ruoyixing arrived.
Guan Qiu ignored Park Ruo's expression. He had already deeply realized the benefits of the eight kidneys. No matter what resentment he had, he would immediately turn into a scrupulous little fairy when he was cleaned up on the bed and keep it.
So he was too lazy to guess what these women were thinking.
After the secretary came in with two cups of black tea, Guan Qiu took a sip and said, "How much do you know about Argentina's national debt?"
"Argentine national debt?" Park Ruo was stunned for a moment, then shook his head repeatedly, "Don't touch it, that's something that's a waste."
Guan Qiu smiled. The woman was still very concerned about him. She smacked her lips and said, "But it's so tempting. 11 billion US dollars, just 3% of the funds can buy 100% of the debt."
Speaking of Argentina's government debt, it is also very fun.
In the first half of the 20th century, Argentina in South America was actually very prosperous, and its economic level was comparable to that of developed countries at that time. However, because they could not see the economic situation clearly, the government kept committing suicide and tried every means to please voters in order to run for election. Since the 1970s, the Argentine government has been borrowing large international debts to maintain operation, giving voters big fish and meat.
During his term of office, he was naturally in harmony with others. When the next president continued to borrow new debts to repay old debts, he would borrow "naked notes" in the end.
Finally, from 1999 to 2001, the year ended, and creditors came to the door. Argentina experienced the worst economic recession in history, and society fell into turmoil. Shopping malls and hotels closed one after another. People took to the streets to march, and cars carrying livestock were stopped by mobs on the road to kill beefs and share meat. The situation was in chaos.
In just one month, the Argentine president changed four, but the debt he owed for decades was too high, and the treasury was empty and he could not repay it at all.
Then the fifth president seemed to have a sudden enlightenment. After taking office, he made a fuss and gave a speech to the creditors: The biggest mistake of the Argentine government is that it does not concentrate on serving the Argentine people.
This sentence is translated into plain language: Why do we need to pay back the money we borrow based on our ability?
The people at the speech were excited and supported by everyone, and no one felt a little ashamed. It was amazing that they were so righteous and silly.
Then at the end of 2001, the Argentine government officially announced a debt default and no longer paid back the money.
This was the worst national debt default at that time, with a total debt of up to US$160 billion.
The creditors were all shocked, and one creditor said: My money might have been lent to a fake country...
If an individual or enterprise defaults, the creditor can also go to the court to file a lawsuit, apply for compulsory execution or bankruptcy. However, if the state defaults on debt, you can't send an army to grab property from the Argentine government building, right?
Looking at Argentina lying on the ground and rolling around, the creditors finally agreed to a debt restructuring in June 2005, mid-year last year: all interest on the owed money will be exempted, and the principal will be paid back 30%.
In fact, Argentina didn't even want to pay back the 30%, but he dreamed of going back to the international market to borrow money to eat meat. The so-called staying at the front line of people will make it easier to meet in the future. It is a symbolic return, so everyone will celebrate the New Year first.
Most creditors finally agreed to the restructuring, accounting for about 65%. After all, retail investors and small funds are unable to fight against sovereign countries.
But some people couldn't swallow this and planned to be stubborn with Argentina's deadbeat, so they sold the IOU to a group of American offshore financial companies registered in the Cayman Islands.
Because Argentine treasury bonds are already garbage, these financial companies led by capital tycoons in Wall Street and London's financial markets bought Argentine treasury bonds at almost cabbage prices.
Now we come to collect debts every day, and we ask that we pay back the debts with no less money, including principal and interest.
Yu Hongtai called him last night. He was originally a joke, but after hearing the total quantity and price, he couldn't help but feel moved.
Park Ruo's beautiful eyebrows were frowned tightly, staring at him and said, "You can't be so naive, are you? Even the Western powers can't do anything to Argentina. Do you still want to dig food in the mud?"
Guan Qiu laughed and said, "The people on Wall Street are not vegetarians. You have to believe it. For the sake of their interests, they can do anything.
There are not many key points, it is less than 350 million US dollars, so it is considered a long-term investment.
If a person dies, his debts will not be ruined. I don’t believe that Argentina can still fly with his feet."
Park Ruo knew that she couldn't tell him, mainly because she was in terms of "strategic vision". She felt ashamed of herself. After thinking about it, she asked: "Since you have decided, come and ask me what I'm doing?"
"I have never operated such a large treasury bond transaction, some international financial knowledge in the contract..."
Guan Qiu talked for a long time, and saw that Park Ruo's eyes became more and more bizarre, she smiled and said with awkward smile: "How about having dinner together tonight..."
Chapter completed!