Chapter 1566 No, I can’t even carry this?

The ecstasy brought a brief dizziness, but then Chang Haonan's heart was lifted again:

“What new conditions has EASA set?”

This news was too abrupt, and was in stark contrast to the European side's previous attitude of fighting for every inch of territory and every penny.

Others are not doing charity, and such a sudden change in attitude must mean more demands behind it.

There was silence on the other end of the phone for a few seconds.

Then, Ren Bingda lowered his voice slightly: "In fact, EASA has no additional requirements." There is an almost absurd feeling in his tone, "The other party said that they were under pressure from the European Commission and... the European Central Bank."

"The European Commission and the European Central Bank?" Chang Haonan thought he had misheard. "Why are they getting involved?"

Airworthiness negotiations are certainly not purely technical and regulatory issues.

But we are all decent people, and if there is anything, we can just relay it and that's it. It seems unnecessary to let the EU's highest administrative body and monetary and financial management body show up directly?

"In fact, I have even spoken to representatives from both sides..." Ren Bingda sighed helplessly, "They were with EASA and suddenly joined the video conference without any prior notice."

Foreign affairs work follows strict authority regulations. Logically, Ren Bingda cannot negotiate directly with the European Commission.

"Don't worry, this situation is definitely not a violation." Chang Haonan comforted, "What are the specific circumstances?"

Ren Bingda on the other end of the phone was obviously relieved:

"The condition proposed by the ECB is that in the short term, we are expected to subscribe to a certain amount of European Stability Mechanism bonds or other forms of European unified bonds to support the stability of European financial markets and the integration process."

When hearing this, Chang Haonan's heart skipped a beat.

He hasn't paid much attention to the situation in Europe recently.

But based on past life experience, the other party’s economy is likely to suffer.

And the situation is urgent.

Otherwise, such a blatant deal would not be proposed.

But he still resisted the urge to interrupt the other person.

"And the European Commission... hopes that we can establish a mechanism to ensure continuous and stable capital injection into designated EU member states in the next few years..." Ren Bingda took a deep breath, "They even hinted at a considerable investment scale."

Chang Haonan thought to himself, as expected, and at the same time couldn't help but roll his eyes -

He acted like a tiger and risked his life to give the euro a fantastic start in 1999.

Even the changes in the Balkan Peninsula have become much milder as a result, and it has joined the European Union in a relatively complete state, causing the United States to lose an important handle for intervening in the European situation.

I thought the euro and the US dollar could compete with each other for 20 to 30 years.

Not to mention supporting the US dollar, at least it can attract some fire.

Only twelve years have passed, how come you still got yourself into a debt crisis?

You can't even carry this?

But things have come to this point, and scolding the Europeans for being bad teammates will not solve the problem.

I had to calm down and focus on the situation in front of me.

"I understand the situation." Chang Haonan tried to make his voice sound steady, "But the volatility of the European financial market and the macro-investment strategy are completely beyond the decision-making authority of the Aviation Power Group, or me personally."

He paused, then gave an order with clear thoughts: "Now do your best to stabilize the EU representatives. Be sincere and express our high regard for promoting the agreement, but do not make any specific promises."

Feeling Chang Haonan's increasingly fast speaking speed, Ren Bingda's voice also added a hint of nervousness: "Understood."

"Then, write a report as quickly as possible and send it to me. I will submit it to my superiors."

"Yes!" Ren Bingda responded decisively.

"Thanks for your hard work."

Chang Haonan put down the phone and silence returned to the office.

The fact that Aviation Power Corporation had to accept such conditions was in itself a misalignment, but it also highlighted the other party's anxiety in trying every possible means to cure their disease.

Thinking of this, he picked up the red phone again and dialed the hotline of the director of the Construction Committee.

This matter involves a wide range of issues, especially since a large number of European countries have already achieved close industrial cooperation with China.

Therefore, although the specific report has not yet been formed, it is better to give relevant units a heads-up in advance...

……

Two days later.

Aviation Power Group Headquarters, conference room.

In addition to Chang Haonan and Ren Bingda, there were three new faces sitting at the oval conference table.

In the middle is a kind-looking middle-aged man from the European Department of the Ministry of Commerce, who introduced himself as You Xu;

On his left was Yuan Jiansheng, a representative sent by the International Department of the Central Bank, and on his right was Lan Xinzhi, an old acquaintance of Chang Haonan, who is now the deputy director of the Industrial and Construction Committee.

"I think you have all seen the conditions proposed by the EU this time." After a brief introduction and opening greetings, Chang Haonan went straight to the point. "The request for us to invest in Europe can be said to be a subversive reversal of the situation in the past thirty years."

The three people opposite nodded.

Chang Haonan didn't hesitate to confirm, "So, have the economic fundamentals within the EU deteriorated to a degree far beyond the general perception of the outside world?"

You Xu showed some surprise on his face, as if he didn't expect the topic to jump here in one step.

However, his hand movements were not affected at all. He quickly connected his computer to the big screen and then opened a PPT.

Chang Haonan noticed that the production date was clearly marked in the lower right corner of the homepage - two months ago.

"That's true." You Xu clicked the mouse quickly, quickly skipping over the first few dozen unimportant pages and coming to the "Financial Health Assessment" section.

A curve representing the total fiscal revenue of eurozone countries has extended almost horizontally over the past decade with very little fluctuation.

The other curve representing total fiscal expenditure has shown a clear and steep upward trajectory since around 2005, and the slope has increased sharply, especially after the 2008 financial crisis.

The "gap" between the two lines is getting bigger and bigger, which intuitively depicts the grim reality of the continued expansion of the deficit.

"As you can see," You Xu pointed at the startling scissors-shaped gap. "Over the past decade, the eurozone's overall fiscal revenue growth has basically stagnated, but expenditures, especially rigid expenditures, have risen sharply. The accumulated public debt has snowballed and has long exceeded the 60% warning line set by the Stability and Growth Pact. Many member states have even exceeded 100%, or even approached or exceeded 150%."

Chang Haonan looked at the chart intently for a while, frowned slightly and asked the question that he had been unable to figure out for two days and two nights:

"Director You, as one of the world's major reserve currencies, the euro has performed quite strongly in the past decade, and its international credit rating has remained high. In theory, with the support of a strong currency, the EU should have a strong ability to resist risks in dealing with debt issues. Even if it is not as good as the United States, it should be much stronger than the general emerging economies. How could it have come to the point where it needed emergency assistance?"

Logically speaking, economic affairs had nothing to do with him.

But the Europeans' performance was so incredible that he really wanted to know how such a great start ended up being ruined.

"In fact, we thought so a few years ago." You Xu switched the PPT and a map of the euro zone appeared, with the economic conditions of each country marked with different colors.

The differences between the north and the south are obvious.

"The problem is that the EU has a unified currency but not a unified politics, which means that a strong euro has a negative impact on some European countries, especially those in southern and central Europe with poor development, while the beneficiaries are mainly concentrated in Germany, France, the Netherlands and northern Italy."

You Xu's tone was filled with helplessness:

"What's worse is that capital can flow freely within the unified currency area. When signs of crisis appear, capital will instinctively flow from the riskier periphery to the safer core, forming a vicious circle - the worse the economy of the peripheral countries, the more serious the capital flight, the reduced tax revenue, and the forced borrowing of more debt to maintain operations, the heavier the debt burden, the higher the risk... eventually forming a knot that is difficult to untie."