Germany may abandon Greece as the first country, global stock markets plummet

Germany may abandon Greece as the first country, global stock markets plummet. The German authorities have discussed setting a stop-loss point for Greece's debt problem, which may allow Greece to borrow money and exit the euro zone, plus France...

Germany may abandon Greece, the global stock market plummets. The German authorities are already discussing setting a stop-loss point for the Greek debt problem, which may allow Greece to borrow money and exit the euro zone. In addition, the three major French banks are facing the threat of downgrade. The global market collapsed on the 12th. The euro hit a 10-year low against the yen and European stocks fell to a 26-month low. The three major European stock markets of Britain, France and Germany all closed sharply on the 12th. British stocks fell 1.63%, German stocks fell 2.27%, and French stocks suffered the worst, falling 4.03%. U.S. stocks fell by more than 1% in early trading on the 12th. They once surged because Broadcom agreed to acquire wireless device chip maker Netlogic for US$3.7 billion and Bank of America planned to cut costs by US$5 billion by the end of 2013. Almost all Asian stocks closed in the black, with the Hong Kong and Australian stock markets the hardest hit. Last week, there were rumors in the market that Moody's may downgrade the credit ratings of three major French banks, including BNP Paribas, this week due to their high exposure to Greece, and the German Merkel authorities are already debating how the government will support the banks if Greece fails to fulfill its commitment to reduce the budget deficit. The person who sparked this discussion was German Economy Minister and FDP Chairman Huessler. He wrote to the media that it was time to reveal his trump cards in the Greek crisis and that Greece's exit from the Eurozone should not be a taboo topic. The Liberal Democratic Party immediately issued a statement, believing that the Greek problem is more serious than the actual problem. The Greek government is increasingly likely to go bankrupt. The German government is the country that has paid the most financial aid and should respond as soon as possible. Brüdler, former Minister of Economic Affairs of the Liberal Democratic Party, also said, "Greece has bounced votes several times, and the problem has reached its highest point." The Liberal Democratic Party's statement put Chancellor Merkel in a difficult position. She was criticized by former Prime Minister Kohl a while ago for ignoring Greece and not respecting international morality. Mester, deputy chairman of the Christian Democratic Party's parliamentary group, said today that "the current policy of aiding Greece has been set and will not change." Although the federal government has passed a plan to assist Greece, many media in Germany have reported that there is a consensus within the government that if the Greek problem cannot be solved after this batch of financial aid, then letting Greece exit the euro zone will be the stop-loss point. The Greek government attempted to calm external uneasiness. Deputy Finance Minister Chassinides said that Greece still has enough money to pay its bills before October. There had been rumors that the money available to the Greek government would not last more than a few weeks.