Greece’s Roman Road

There was silence in the conference room as everyone pondered how to raise funds.

After hearing the feedback from Koledis and others, Constantine thought of a new way to sell government bonds.

In order to determine whether the method is feasible, Constantine once again confirmed to the heads of the three banks: "The lowest face value of the government bonds you issue is one thousand drachmas. Why is the face value so large, instead of printing some smaller face values? What about the national debt? Like a hundred drachmas, or even smaller.”

Constantine did have doubts. He had to know that the annual interest rate of government bonds issued by Greece was as high as 5%, which was much higher than the savings interest given by banks.

Under normal circumstances, many Greeks should be tempted by such high investment and financial products.

Therefore, Constantine believes that there should be a problem with the bank's treasury bond issuance strategy.

First of all, it is the government bond with a minimum denomination of 1,000.

At this time, most of the Greeks' monthly income was around two or three hundred drachmas.

Buying a national bond with a face value of one thousand drachmas means that many people need to spend more than half a year's income to buy a national bond. It is indeed difficult for a strongman.

Ordinary people would not keep such a large amount of cash, let alone those incomes that still need to meet daily expenses.

Hearing this, Koledis explained: "His Royal Highness, most people do not have the concept of financial management. The staff of our bank do have this idea. As you said, the denomination of the national debt is printed in a smaller number. And then sell it to those ordinary people"

Helplessly spread his hands and smiled bitterly: "But the people don't trust such bonds at all. When they hear that the national debt may default, or when money is urgently needed, they can sell the bonds they hold on the Athens Stock Exchange at any time and convert them into cash. The public shook their heads and regarded our staff as liars."

"Probably in their eyes, they regard treasury bonds as something like stocks."

"In this case, we can only ask those wealthy people who have rich knowledge about wealth management products. After all, they have basic investment concepts, and at least they will not mistake the treasury bonds we issue for stocks."

Since the Athens Stock Exchange in Greece started to operate, stocks, which are relatively unfamiliar to most Greeks, have also gained the most basic understanding through newspapers or hearsay.

Most of the Greeks are still relatively primitive and simple, and they do not understand some ways to earn wealth through the stock market.

By buying stocks at a low price on the exchange and selling them at a high price, some people have earned a wealth that many people cannot get in their entire lives. In the eyes of many people, it is incomprehensible.

In the simple concept of most Greeks, these people did not create any material wealth at all, and it is an incredible thing to be able to make money by buying and selling a piece of paper.

The unfathomable insider in stock trading. At this time, there are many management loopholes in the stock exchange, insider trading is rampant, and many investors who are not aware of it have suffered heavy losses. Such news is seen in newspapers from time to time, and it is even more profound. Most Greeks hate stocks.

In the eyes of many Greeks, the stock exchange is a place full of liars, hooligans and thieves, not a place for serious people.

It is not difficult to understand that the staff of the bank, when explaining the advantages of national debt, mentioned that the buyers of national debt in urgent need of cash can go to the Athens Stock Exchange to sell, the people regard these bonds as stocks, and these banks that sell national debt The staff has naturally become a liar to lure the public to buy stocks.

From the perspective of bank professionals, treasury bonds can be sold on exchanges at any time, which is an advantage of treasury bonds, rather than a single cashing method that only the government pays the principal and interest upon maturity.

After understanding these problems, Constantine became more confident about the new method, so he reminded everyone: "When I was reading the history books of the American Civil War, I remembered that it was recorded in the books that the governments of the North and the South responded to the expenses in order to A huge war, each with a different response.”

"The southern government used the method of printing money to raise funds, while the northern government used the method of issuing government bonds"

"In addition, the northern government has adopted a special method in order to achieve a better sales effect of national debt," Constantine reminded several people.

A few words from Constantine made the eyes of several people in the room light up.

"Yes, is this really an object to follow?" Prime Minister Venizelos said in surprise.

During this period of time, in order to make money, I have been unhappy all day, but now I finally have a breakthrough.

The three of Koledis looked at each other and nodded. Using the American method, it is indeed possible to succeed.

"Mr. Prime Minister, this method needs the support of the government. It is impossible to rely on the staff of our bank to do what His Royal Highness said," Koledis said to Venizelos.

"Not only the municipal government, but also the major newspapers in Greece~www.wuxiax.com~ and let them cooperate in public opinion," Constantine said.

Larry and the three managers hurried out of the conference room to implement the new Treasury sales plan.

The meeting room was quiet again.

"His Royal Highness, if the sale of national debt this time can really meet expectations, then the funds for the war with the Bulgarians are barely available. This assumes that the scope of the war is only limited to Greece and Bulgaria. Under the circumstances, the current Greece's finances are increasingly reliant on borrowing," Venizelos said worriedly.

"In any case, in a short period of time, Greece can no longer afford a war. The government's tax revenue has been severely overrun, the fiscal deficit has expanded, and the entire country of Greece needs a long period of repair."

Constantine nodded and agreed: "You are right, Mr. Prime Minister, but there is no need to worry so much. With Greece's financial constraints, how can Bulgaria get better? Maybe Ferdinand is now struggling with funding. The question is, in the last war, Bulgaria was the main force, even if Bulgaria now has the assistance of Austria-Hungary, what can it do?”

In the Balkan War of 1912, Bulgaria mobilized a huge army of 400,000 people. During the war, the Bulgarian army confronted the main force of the Ottoman Empire in Thrace.

The Greek and Serbian armies were only responsible for the flank battlefield, and the number of mobilized soldiers was only half that of Bulgaria. The battle in Macedonia was far less **** and cruel than the battle in Thrace.

Therefore, Greece's finances are tight, and according to Constantine's estimation, Bulgaria's finances are not much better.