欧洲主权债务危机英文
European debt crisis欧洲债务危机英文PPT
The phenomenon of the crisis
• Several eurozone member states (Greece, Portugal, Ireland, Spain and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other Eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
3、To extend the time for euro moetary policy easing
• As the single current area,economic imbalances within euro exist and it is a obatacle to the euro economic revocery.So the relaxed money policy in the implement of exit strategy is difficult to determine a suitable timetable for all members of the European Central Bank
• December 2009 the three largest credit rating companies downgraded Greece's sovereign rating. • December 8,2009 Fitch credit rating of Greece lowered from “A-”to”BBB+” • December15,2009 the Greek government bonds sold 2 billion euros. • December 16,2009.Standard &Poor's downgraded Greece's long-term credit rating from “A-”to”BBB+”. • December22,2009,Moody's announced that it would cut Greece's sovereign rating from A1 to A2,outlook negative.
欧洲主权债务危机英文课件-PPT精品文档
Ask EU to recognize China’s Market Economy Country Status and loosen the hightech products export to China ?
news.xinhuanet/world/2019-10/28/c_111131389.htm
1、What’s European Sovereign Debt Crisis ? （the definitions of 2 terms)
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full. It may be accompanied by a formal declaration of a government not to pay , or only partially pay its debts. If potential lenders or bond purchasers begin to suspect that a government may fail to pay back its debt, they may demand a high interest rate in compensation for the risk of default. A dramatic rise in the interest rate faced by a government due to fear that it will fail to honor its debt is sometimes called a sovereign debt crisis.
欧洲债务危机（Europeandebtcrisis）
欧洲债务危机（European debt crisis）The root of the European debt crisis:(1) the excessive debt of government and private sector over borrowing is the direct cause of the crisis. In addition to Spain and Portugal have experienced a net savings surplus in 1990s, five PIIGS were in debt investment in 1980 to 2009 years. Long term debt investment has led to huge government deficits. The European Union's stability and growth pact stipulates that the government's fiscal deficit should not exceed 3% of GDP, while the government deficit has increased sharply in the 2007~2009 years since the onset and early outbreak of the crisis. In the case of Greece, on the eve of the euro from 2001 to 2008 the average annual debt crisis, Greece deficit reached 5%, while the euro zone data is only 2%; Greece's current-account deficit 9% annual output in the euro area data is only 1%. In 2009, Greece's debt to GDP ratio was as high as 115%, and the country that used to overdraw the future has gradually lost its capital to continue borrowing. These problems are prevalent in the PIIGS five countries. With the deepening of European integration, some level of economic development in Greece and Portugal as the representative of the low countries, wages, social welfare, unemployment benefits and other aspects gradually to par with developed countries such as Germany, France, the expenditure level of excess domestic output more and more. Since wages and social welfare are difficult to adjust downward after rising, the so-called "Stickiness" leads to a rising debt ratio between the government and the private sector. The causes of debt problems in Spain and Ireland are slightly different from those in greece. The two countries were affected by the subprime mortgage crisis, the real estate market rapidlydepressed, a large number of bad debts appeared in the domestic banking system, and eventually formed a banking crisis. And the government's ability to borrow and repay debt is a problem in the process of bailing out the banking sector. At this point, the five governments that already have huge debts have no better ability to lend further, and the government credit can not make investors feel relieved to act as creditors. Investors generally regard 6% as a warning value of sovereign debt crisis, and once that exceeds this level, the country will face sovereign debt crisis. The debt problem in Italy is relatively optimistic in the PIIGS five countries, but the current 10 year treasury bond yield is close to 6%. In addition to Italy, the PIIGS five countries in 2009 the government deficit has been several times the warning value of 3%. When huge government budget deficits cannot be compensated by new debt, the debt crisis will inevitably erupt.(2) the income distribution system of deformity has accumulateda great deal of crisis. After the Second World War, European countries have set up the social income distribution system and social security system with high welfare. One is from the wage level, the European countries known as the "high salary", even in poorer countries such as Greece in Europe, social wage growth has been, although the GDP growth rate has remained at 1% ~ 2%, the real wage growth has been higher than 5%, reached 8%, 4 percentage points higher than in European countries 2008. The two is from the social welfare perspective, countries including the establishment of child allowances, sick leave allowance, health and education, housing, unemployment, pension insurance, funeral subsidies and other welfare system, covering all aspects of social life. In particular, the huge subsidy for theunemployed has become an important drag on the government's finances. The unemployment rate in Greece, for example, is around 10%, which is not the highest in Europe, but for a relatively thin country, unemployment relief is a heavy pressure. The Greeks still enjoy the most expensive pension system in the world today. Retired workers enjoy 96% of pre retirement income, and pension benefits are among the top 30 in the richest countries in OECD. The large population of unemployed also limits the increase of government revenue, and the total tax revenue in Greece has maintained 40% of GDP,Years have not increased, but spending has increased year by year. This kind of fiscal income barely keeps up with the rising wage and welfare, and the abnormal income distribution system brings more and more pressure to the government finance, and the hidden danger of the crisis is accumulating constantly.(3) the government dereliction of duty and system defects of PIIGS countries experienced such a serious crisis, slow, or not as indiscriminate government five prescription "of the blame. Although the five governments performed differently in the crisis and in the crisis, their dereliction of duty was an important factor in the crisis. First of all, in order to pursue short-term interests, please the people and public opinion survey in the general election, the government adopts the "obscurantism", take "harm than good behavior. The Greek government, for example, hid large amounts of financial deficits before 2009.Second, some governments try to evade regulatory sanctions between the European Commission and the European Central Bankin various ways. Germany, France and other economic development "leader" was a negative example in this regard, and other countries have followed suit. Again, in Ireland and Spain as the representative of the national government allowed the domestic economy bubble, once the bubble burst, and spend a lot of money to help taxpayers virtual economy, resulting in economic structure distortion. Finally, the head of government is overcautious, did not dare to take decisive measures to nip the crisis in the bud". The Italy government, for example, failed to take decisive action when the deficit reached 5.3% in 2009, but only delayed it, which led to the escalation of the crisis.(4) the defects of the euro zone system and the institutional defects of the euro zone are also evident in this crisis. First of all, according to the system design of the euro area, the member states do not have the right to issue currency, nor do they have independent monetary policy. The European Central Bank is responsible for currency issuance and monetary policy implementation in the whole region. In the process of European economic integration, the unification of the currency to countries in the region to enjoy the many benefits in the economic recession, this arrangement can promote regional and international trade development, reduce the macro transaction cost. However, in a storm, the crisis of the country cannot to implement monetary policies, and thus unable to devalue the currency to reduce the debt scale and to increase the international competitiveness of export products, only through austerity and raising taxes such as total demand to increase the compression of debt financing, which makes the already ailing economy one disaster after another. The president ofIceland recently pointed out that Iceland is able to rebound quickly from bankruptcy, because the government and the central bank to be able to own the currency devaluation to promote exports, this is any euro zone countries are unable to enjoy the "welfare policy". The British government has repeatedly reiterated that it will not join the euro zone. To sum up, Europe and the United States and other developed countries are burdened with more and more heavy debt burden, the main factors are not to be ignored:First, the social security, health care and other social welfare expenditures continue to grow, the financial burden is increasingly heavy;Two is affected by the U.S. subprime mortgage crisis, the government used to save financial institutions and stimulate economic growth in fiscal spending increased substantially;The three is due to the negative impact of the U.S. subprime crisis is not eliminated, Europe and the United States actually slow economic growth, fiscal revenue growth rate is severely damaged, causing public debt sustainability and safety questioned by the market. European debt crisis solutions and solutions and future trendsSolutions to European debt crisis and future trends:Crisis countries have been unable to solve their own chronic illness by themselves, and the aid programs and efforts of neighboring countries and institutions will determine the course of the crisis to a large extent. As the largest sovereigncountry in the euro area, Germany's willingness to rescue and aid to the crisis countries will become an important factor in the development of the crisis. As mentioned above, the economic and financial situation in Germany is gradually recovering, and the prospects are more optimistic,So Germany has the power to help countries in crisis. From another point of view, the stable and harmonious euro zone is an important guarantee for German economic growth, and Germany itself has been unable to dissociate itself from the euro area.On the one hand, the European monetary integration is an irreversible process, which determines the German difficult to withdraw from the euro area; on the other hand, Germany could not let the crisis country's problems while standing on the sidelines, system integration is destined to "pull one hair and the whole body", is the only common development the only way out.So Germany has a willingness to bail out countries with crisis. Although the German domestic disputes on the issue of aid continued, but only truly to the crisis countries to lend a helping hand, just in line with Germany's own interests. In the middle of July 2011, after the fierce debate at home, the German government announced that it would coordinate with the European Central Bank and the International Monetary Fund (IMF) to determine the second round of rescue plans for greece. Although the domestic situation in France is not optimistic in Germany, the situation is similar. If Germany and France can further work together on the issue of aid, then the rescue process will likely be greatly shortened. In the rescue process, theEuropean Central Bank, the European Commission, the International Monetary Fund and other institutions have put forward solutions to crisis countries, to lend a helping hand. Greece, Ireland and Portugal have all applied to the European Commission for aid, and the rescue program is in the making or early stage of implementation. Aid to Ireland by these organizations is a more successful case.At the end of 2010, Ireland reached an agreement with the European Union and the International Monetary Fund to accept 85 billion euros of aid. According to the agreement, the International Monetary Fund, the European Commission and the European Central Bank's joint review group will be a quarterly review of the Irish Financial and economic situation and promote the effectiveness of the rescue plan. In mid July 2011, the review showed that the rescue plan on schedule, the use of funds, the Irish government implemented the relevant measures stipulated in the agreement, the industry wage for some useful adjustment, especially the adjustment of some of the current unemployment rate is high for the industry wage structure. These adjustments have positive significance for the recovery of macroeconomic supply level. After the review, Ireland will receive another 4 billion euros of bailout money. In the long run, the rescue of the crisis depends not only on external aid, but also on the direction and effort of the crisis countries themselves. Previously, the investment and consumption patterns of these countries in crisis leads to excessive overdraft crisis staged, and the government not only failed to carry out proper guidance in the policy system, and even the fire in the wrong direction "".If these countries can not "means", still maintain beyond their output capacity range of consumer spending, even temporarily survived the crisis, the future will also appear in a series of problems caused by the deficit. After the baptism of the crisis, the euro area must be more cautious, strict and perfect in system construction, rules making, policy implementation and so on. Previously, the European Central Bank has been unable to formulate policies for specific countries in the region, and seems to be rigid and lagging behind in formulating policies for curbing inflation and ensuring economic growth. Before the European debt crisis, the ECB's untimely policy was considered a catalyst for the crisis.In the United States subprime crisis swept the world in July 2008, the European Central Bank, despite the vulnerability of the eurozone economy, the benchmark interest rate increased from 4% to 4.25%, so that some countries had overwhelmed the financial and real estate industry in the "besieged on all sides of the situation, and a large area of bad debts of the real estate industry will inevitably affect the financial industry.In addition, the European Central Bank has a large number of bonds held by member states. Three small economies, Greece, Ireland and Portugal, are in crisis,The amount of treasury bonds held by the European Central Bank is 47 billion euros, 19 billion euros and 21 billion euros respectively. Therefore, the solvency of Member States is closely related to the central bank itself. It is believed that after the crisis, the core macroeconomic management institutions represented by the ECB will conduct a moreprofound self-examination, which will be conducive to the long-term and healthy development of the entire euro area.。
European sovereign-debt crisis欧债危机
相关评论
“结果显示欧元区与最优货币区差距甚远” ——希腊基金经理贾森 马诺洛普洛斯 贾森·马诺洛普洛斯 贾森 “正在浮现的主权债务危机……是西方世界的财政 危机” ——英国经济学者尼埃尔·费格逊 “美元面临的处境可能比欧元还要危险 ” ——《金融时报》
中国该如何面对? 中国该如何面对
欧洲债务危机前的国内经济政策调整
Hale Waihona Puke 欧洲债务危机影响下的国内政策调整
产业升级势在必行
导语： 导语：欧元区的崩溃绝不仅仅是一场金融动荡。近一百年来欧洲人 为了欧洲避免战争和复兴的梦想也将付之一炬。
欧债危机概述
欧洲主权债务危机爆发的主要引线或导火索可以说 是希腊。即 希腊在2001年达到了欧盟的财赤率要求， 同年加入欧元区。但是， 这一过程对希腊国家而言， 所付出的代价也是相当巨大的。具体而 言，希腊为 了尽可能缩减自身外币债务，与高盛签订了一个货 币互 换协议。这样，希腊就通过货币互换协议减少 了自身的外币债务，达 到足够的财赤率加入欧元区。 但通过与高盛所签订的协议来看，希腊就必须在未 来很长一段时间内支付给对方高于市价的高额回报。 随着时间的推移，希腊的赤字率显然会走入低迷状 态，进而导致了 2009 年的主权债务危机形成。
1.金融危机中政府加杠杆化使债务 金融危机中政府加杠杆化使债务 负担加重
外部原因 欧 债 危 机
1.产业结构不平衡：实体经济 产业结构不平衡： 产业结构不平衡 空心化， 空心化，经济发展脆弱 2.评级机构煽风点火，助推危机 评级机构煽风点火， 评级机构煽风点火 蔓延
内部原因
2.人口结构不平衡：逐步进入 人口结构不平衡： 人口结构不平衡 老龄化 3.刚性的社会福利制度 刚性的社会福利制度
eropean debt crisis
Brief introduction of Some Terminologies
1.欧元区(Eurozone)是指由采用欧元作为单一的官
方货币的国家组合而成的区域。欧元区由欧洲中 央银行负责制定货币政策。1999年1月1日欧元 正式出现宣告欧元区的成立。希腊 希腊2001年1月1 希腊 日加入欧元区。欧元区共有17个成员，根据官方 对于2007年GDP数据的预测，欧元区已经成为 世界上最大的经济体。现在有超过3亿2千万的人 口。
6.主权信用评价Sovereign rating 家主权评级，体现一国偿债 意愿和能力，主权评级内容很广，除了要 对一个国家国内生产总值增长趋势、对外 贸易、国际收支情况、外汇储备、外债总 量及结构、财政收支、政策实施等影响国 家偿还能力的因素进行分析外，还要对金 融体制改革、国企改革、社会保障体制改 革所造成的财政负担进行分析，最后进行 评级。主权评级标准从AAA至C 。
From late 2009, fears of a sovereign debt crisis developed among investors concerning some European states, intensifying in early 2010. 欧洲主权债务危机（ 欧洲主权债务危机（简 称“欧债危机”）， 是指自2009年年底以 来，不少财政上相对 保守的投资者对部分 欧洲国家在主权债务 危机方面所产生的忧 虑，危机在2010年年 初的时候一度陷入最 严峻的局面
What ‘s the latest reaction?
• Greek referendum(公投). • EU Summit. • G20 Summit.
欧债危机发生及影响
欧洲债务危机European debt crisis即欧洲主权的债务危机。
其是指在2008年金融危机发生后，希腊等欧盟国家(European Union countries)所发生的债务危机。
一、主权债务主权债务Sovereign Debt 是指一国以自己的主权为担保向外，不管是向国际货币基金组织还是向世界银行，还是向其他国家借来的债务。
二、主权债务违约现在很多国家，随着救市规模不断的扩大，债务的比重也在大幅度的增加。
当这个危机爆发到一定阶段的时候可能会出现主权违约，当一国不能偿付其主权债务时发生的违约。
传统的主权违约的解决方式主要是两种：·违约国家向世界银行或者是国际货币基金组织等借款;·与债权国就债务利率、还债时间和本金进行商讨。
三、主权信用评价主权信用评级体现一国的可能性，评级机构依照一定的程序和方法对主权机构（通常是主权国家）的政治、经济和信用等级进行评定，并用一定的符号来表示评级结果。
主权评级涉及的内容很广，除了考虑GDP的增长趋势、对外贸易、国际收支情况、外汇储备、外债总量及结构、财政收支、政策实施等影响国家偿还能力的因素，还要对金融体制改革、国企改革、社会保障体制改革所造成的财政负担进行分析欧洲债务危机进程一、概述开端：2008年12月全球三大评级公司下调希腊主权评级，希腊的债务危机随即愈演愈烈，但金融界认为希腊经济体系小，发生债务危机影响不会扩大。
发展：欧洲其它国家也开始陷入危机，包括比利时这些外界认为较稳健的国家，及欧元区内经济实力较强的西班牙，都预报未来三年预算赤字居高不下，希腊已非危机主角，整个欧盟都受到债务危机困扰。
蔓延：德国等欧元区的龙头国都开始感受到危机的影响，因为欧元大幅下跌，加上欧洲股市暴挫，整个欧元区正面对成立十一年以来最严峻的考验，有评论家更推测欧元区最终会解体收场。
升级：2011年7月27日标普下调希腊评级至“CC”，展望为负面。
标普认为欧盟的希腊债务重组计划是“廉价交换”，看似希腊债务交换和展期选项“对投资者不利”，希腊债务重组相当于“选择性违约”。
欧洲债务危机英文ppt课件
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• EU finance ministers reached a total of up to 750 billion euros of stabilization mechanism to prevent the crisis from spreading
2019
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12
20192009 the three largest credit rating companies downgraded Greece's sovereign rating. • December 8,2009 Fitch credit rating of Greece lowered from “A-”to”BBB+” • December15,2009 the Greek government bonds sold 2 billion euros. • December 16,2009.Standard &Poor's downgraded Greece's long-term credit rating from “A-”to”BBB+”. • December22,2009,Moody's announced that it would cut Greece's sovereign rating from A1 to A2,outlook negative.
• April,2010 Greece formally applied to the EU and IMF assistance. • May 3,2010 German cabinet approved 22.4billion euros aid plan. • 10 May the EU approved 750 billion euros Greek aid program,IMF may provide 250 billion euros to aid Greece.
欧洲债务危机英文分析GREECE
The three countries most affected, , Ireland and Portugal, collectively account for 6% of the euro zone's gross domestic product
Greece
The Achillis Heel
The Achillis Heel
The Achillis Heel
Chart description：The ability of a nation to pay its public
debt is a function of the government's financial position as well as economic growth and interest rates on the debt. Credit rating agencies assign a credit rating to the debt that reflects their assessment of numerous risk factors. Note this chart covers 'public debt only, which represents the obligations of each country's federal government. External debt is the sum of public and private debt owed to foreigners. Some of these countries have external debts far larger than their public debt. The ability of the nation's industries to pay the private portion of the external debt relates to their competitiveness, the nation's economic growth, and employment levels, among many other factors.
主要国家与地区经济欧债危机
高天华 刘洋 马思杨 史天奇 安旭阳
Debt Crisis in Europe
概念 欧洲债务危机即欧洲主权的债务危机。其是指在2008 年金融危机发生后，希腊等欧盟国家所发生的债务危机。
根据国际货币基金组织的定义，债务危机是指在国际借贷 领域中大量负债， 超过了借款者自身的清偿能力， 造成无力 还债或者必须延期还债的现象。国际上普遍采用国债负担率 （国债余额与GDP的比率）和赤字率（赤字总额与GDP的比 率）来分析和评价政府债务风险。
德国等欧元区的龙头国都开始感受到危机的影响，因为欧元大
幅下跌，加上欧洲股市暴挫，整个欧元区正面对成立十一年以 来最严峻的考验，有评论家更推测欧元区最终会解体收场。
蔓延
2010年2月4日 德国预计2010年预算赤字占GDP的5.5%
2010年2月9日 欧元空头头寸已增至80亿美元创历史最高纪录
2010年2月10日 巴克莱资本表示，美国银行业在希腊、爱尔兰、葡萄 牙及西班牙的风险敞口达1760亿美元
权评级，希腊的债
务危机随即愈演愈烈，
但金融界认为希腊
经济体系小，发生债 务危机影响不会扩大。
2009年12月8日 惠誉将希腊信贷评级由A-
下调至BBB+，前景展望为负面。
2009年12月15日 希腊发售20亿欧元国债 2009年12月16日 标准普尔将希腊的长期
主权信用评级由“A-”下调为“BBB+” 2009年12月22日 穆迪09年12月22日宣布将
金融危机中政府加杠杆化使 债务负担加重。 各国政府纷 纷推出宽松政策，高福利、低盈 余的希腊无法通过公共财政盈余 来支撑过度的举债消费。由于国 际宏观经济的冲击，债务负担成 为不能承受之重。
欧债危机TheEuropeanDebtCrisis
2）Greece is a society with high-level welfare and high-level consumption, when greek economy turns bad ，the government has to borrow money.
Greece's recent debt history, between 2019 and 2019.
The European Debt Crisis
Two different conceptions
European Union : made up 27 countries the Eurozone （欧元区）: made up of
only 17 countries
The euro（欧元）is already the second global currency，ranking only second to the dollar.
God helps who helps himself ！
Thank you ！
The recent sharp rise in the RMB exchange rate (汇率） against the euro makes the situation of China‘s exports to Europe more and more severe.
the sameRMB = more euro
（PIGS—the five countries above is also called PIGS, which have the most risky governmental debt ）
The debt of the european countrie （the ratio of debt toGDP)
欧洲主权债务危机英文课件ppt课件16页PPT
2、What are the influences of the ESDC on China?
(disadvantages and advantages)
Over China’s foreign trade More money will leave China
Improve China’s structural transformation European overseas capital investment return Reconsider the local debt of China
In October 2011, eurozone leaders meeting in Brussels agreed on a package of measures designed to prevent the collapse of member economies due to their spiraling debt. This included a proposal to write off 50% of Greek debt owed to private creditors, increasing the EFSF to about €1 trillion and requiring European banks to achieve 9% capitalization.
欧洲主权债务危机
1楼发表于2010-5-1 19:56 |只看该作者|倒序浏览|打印本帖最后由majer 于2010-5-6 18:10 编辑Europe's sovereign-debt crisis欧洲主权债务危机Acropolis now卫城启示录The Greek debt crisis is spreading. Europe needs a bolder, broader solution—and quickly希腊债务危机正在蔓延。
欧洲急需更加果敢全面的方案Apr 29th 2010 | From The Economist print editionTHERE comes a moment in many debt crises when events spiral out of control. As panic sets in, bond yields lurch sickeningly upwards and fear spreads to shares and currencies. In September 2008 the failure of once-stellar Lehman Brothe rs almost brought down the world’s banking system. A decade earlier, Russia’s chaotic default on its sovereign debt rocked the credit markets, felling Long Term Capital Management, a hugely profitable American hedge fund. When the unthinkable suddenly becomes the inevitable, without pausing in the realm of the improbable, then you have contagion.许多债务危机都发展到了事态失控的一刻。
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3、What is the attitude of China ?
G20 summit 2019 was held in Nov 3rd-4th Oct 28th, China’s vice foreign minister Fu Ying
attended a Briefing.
news.xinhuanet/world/2019-10/28/c_111131389.htm
The United States is still the leader of the world.
President Hu ignores Sarkozy, over which Obama has a good gloat.
5、What part should China play in
2、What are the influences of the ESDC on China?
(disadvantages and advantages)
Over China’s foreign trade More money will leave China
Improve China’s structural transformation European overseas capital investment return Reconsider the local debt of China
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European Sovereign Debt Crisis and China
Liu Pengfei
Nov 30th, 2019
What is the European Sovereign Debt Crisis （ ESDC）?
What are the influences of the ESDC on China ?
Concern about rising government debt levels across the globe together with a wave of downgrading of European government debt created alarm in financial markets. On 9 May 2019, Europe's Finance Ministers approved a rescue package worth €750 billion aimed at ensuring financial stability across Europe by creating the European Financial Stability Facility (EFSF).
1、What’s European Sovereign Debt Crisis ? (the progress of the Crisis)
From late 2009, fears of a sovereign debt crisis developed among investors concerning some European states, intensifying in early 2019 and thereafter.
In October 2019, eurozone leaders meeting in Brussels agreed on a package of measures designed to prevent the collapse of member economies due to their spiraling debt. This included a proposal to write off 50% of Greek debt owed to private creditors, increasing the EFSF to about €1 trillion and requiring European banks to achieve 9% capitalization.
Ask EU to recognize China’s Market Economy Country Status and loosen the hightech products export to China ?
Nov 1st, China launched theTiangong-1 successfully.
Third，“冷静观察、沉着应付、稳住阵脚、韬 光养晦、有所作为”.(“Coolly observe, calmly deal with
things, hold your position, hide your capacities, bide your time, accomplish things where possible.” )
If potential lenders or bond purchasers begin to suspect that a government may fail to pay back its debt, they may demand a high interest rate in compensation for the risk of default. A dramatic rise in the interest rate faced by a government due to fear that it will fail to honor its debt is sometimes called a sovereign debt crisis.
4、What is the attitude of the United States ?
Oct 28th, President Obama published an article in the Fiancial Times, which set the tone of the United States to G20 Summit and ESDC.
European debt crisis ?
First, China should buy more bonds from multilateral institutionsa should encourage domestic enterprises to expand in Europe, carry out business cooperation with European companies or invest more in the infrastructures of some European countries.
Crisis ? （the definitions of 2 terms)
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full. It may be accompanied by a formal declaration of a government not to pay , or only partially pay its debts.
Nov 3rd, Tiangong-1 docked with Shenzhou-8 successfully, which marks China has become the third country having the docking technology.
Does China want to demonstrate that it has became a Big Power ?
What is the attitude of China ?
What is the attitude of the United States ?
What part should China play in European Sovereign Debt Crisis ?
1、What’s European Sovereign Debt