欧洲主权债务危机（英文课件）.ppt

European Sovereign Debt Crisisand China
Liu Pengfei
Nov 30th, 2011
What is the European Sovereign Debt Crisis（ ESDC）?
What are the influences of the ESDC on China ?
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 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.
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 2010 and thereafter.
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 2010, 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).
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.
2、What are the influences of the ESDC on China? (disadvantages and advantages)
Over China’s foreign trade