Bulgarian Empire

Chapter 78: The Temporary Economic Policy

The future Nikolai II and the Japanese things are rotten. It was out of Ferdinand's hands, and he lit a fire and left it behind.

Thanks to Ferdinand's early warning of the economic crisis, the Bulgarian government has assigned people to monitor the financial markets. There are now economists who have sensed the crisis.

Ferdinand did not expect the economic crisis to spread to Bulgaria so quickly. According to economists' expectations, the crisis should have spread to the Balkans by the end of 1892.

However, he prepared the previous response plan in line with the outbreak of economic crisis at the end of this year, which Ferdinand could not ignore.

Ferdinand can only choose to listen to the experts as a financial novice. As for other traversers relying on the economic crisis to make a fortune, Ferdinand said: I did not dare to die without the main character aura.

The end of the 19th century was a haven for monopolism. Large and small business groups controlled the economies of all of Europe. If you want to make a big splash in the stock market, people can modify the rules in a minute and tell you to lose a lot of money.

Of course, there is no big action and a lot of small actions. Ferdinand is also a member of the rule maker, from which a share of the pie is still possible.

The most faithful Karl, this time, took on the heavy duties to go to the first outbreak of the crisis in Germany. Making money in Ferdinand is not good enough, but the bottom of this simple, using cabbage prices to buy bankrupt companies, this kind of work can be done without technical content!

With the harvest, Ferdinand has not had the energy to care and now has to deal with the economic crisis in Bulgaria.

The Royal Palace in Sofia, the Bulgarian government, is now gathered together. Each one of them is frowned upon by the "economic crisis" and what a terrible word.

Chekhov, in particular, had just returned from abroad as a diplomatic representative. He had seen the tragic situation in Germany during the economic crisis, with tens of thousands of factories going bankrupt, nearly ten million unemployed people, and human tragedies taking place every day.

Ferdinand is one of the calmest. He knows that Britain and France, with vast colonies, are not seriously damaged by this economic crisis. Russia's industrial underdevelopment itself did not start an economic crisis.

It means that this economic crisis is not global. The crisis in the Balkans, then, is mainly influenced by Germany.

"Gentlemen, brace yourselves for the economic crisis. Let's listen to expert Rehn's opinion first!" Ferdinand said with a clear mind.

Rehm Holman, an Austrian, one of the leading Austro-Hungarian economists, was poached by Ferdinand at great expense. It was he who asserted this time that the economic crisis had spread to Bulgaria.

When Ferdinand had just said, Rehn Holmann was not polite and spoke directly: "This economic crisis, initially caused by Germany, mainly because the capitalists blindly invest in railroads. They built many regional railroads overlapping, which exceeded the market demand, and the German railroad bubble exploded in 1890.

It caused the stock market to plummet. Since then, stock prices have continued to fall, and many companies have gone bankrupt, which coincided with a poor food harvest, fueling the crisis.

After the outbreak of the economic crisis, German companies are desperate to find markets abroad in order to survive. Now there are signs that they have their eyes on Bulgaria!

But this is a bit strange. Normally, a region like the Balkans should be the last choice with its backward economy and limited market!"

Having said that, Rehn Holmann still had a puzzled one, having been amazed at the behaviour of the German capitalists.

But Chekhov's face is now sour, so this crisis is also related to his visit. At that time, Germany was in an economic crisis, and they sold many industrial products in shame. The delegation, of course, was buying, and it was clear that the delegation's big purchases had attracted the attention of German capitalists.

Now that it has happened, it's too late to regret it. Ferdinand saw that the crowd's expression was a bit weird and said, "Well, things have happened with a bitter smile. And our strategic purpose has been achieved. It's better to think of ways to deal with the next crisis now!"

"Mr Rehn, I would like to know what the worst outcome would be if the economic crisis is in full swing."

Rehn Holmann thought about it and said, "Your Highness, Germany is a big industrial country. If we don't take measures, the domestic manufacturing industry will face brutal competition. Moreover, the financial markets affect each other, and this crisis will certainly spread to other countries as well. The worst thing we may face is dumping from big countries."

Rehn did not say the results, but everyone understands the analysis of the situation. This time, Bulgaria's manufacturing industry will suffer from bad luck.

"So what can we do now? Is the government going to pay for a bailout?" Prime Minister Konstantin asked in an unsure voice.

"Issue a warning of the economic crisis and tell capitalists to prepare to reduce production, but prohibit cutting jobs without too much! Suppose a business operation wants to reduce its workforce. In that case, the business must first file for bankruptcy, and all shareholders of the business are prohibited from engaging in the industry in the future!" Ferdinand said coldly.

The crowd sucked in a breath of cold air. It's to cut the flesh of the capitalists. However, this is the best way at the moment. It can be the most effective way to maintain social stability.

The Bulgarian government would likely dare to do so. If it were any other country, the capitalists would have made a scene.

In fact, Konstantin also wondered why Bulgaria's big capitalists are very disciplined. They have always cooperated with the laws introduced by the government and never resisted. Basically, the crimes are committed by small capitalists. In other cases, the capitalists are profit-oriented, not a different kind of thing.

They couldn't figure it out. They could only put it down to the people being pure and simple, having a strong patriotism and knowing the bigger picture.

Only Ferdinand knows that it is all his vest. Of course, he will not come out and sing against himself.

"Your Highness, besides that, can't we also adopt economic and financial controls to limit the outflow of funds!" Konstantin took Ferdinand's words.

"Yes! Also, we can start some government projects early to absorb the unemployed! Also, during the economic crisis, we can try to see if we can poach a group of engineers from abroad." Ferdinand said after thinking about it.

...

In the course of just a few hours of debate, the Bulgarian government then came up with a set of temporary economic policies ready to be launched.

Ferdinand, in the end, still has some of his own sense. Although many of the measures are copied from the future, it is still unsure if it will work now, so he opened his mouth and asked, "Mr Rehn, you are an economic expert. How feasible do you think our strategy is?"

After listening to the discussion of the crowd, Rehn Holmann has been stunned. The courage to think of these measures, did the Bulgarian capitalists have changed to vegetarian?

Hearing Ferdinand's question, he hesitated for a moment before deciding to respond and then cautioned with great modesty, "Your Highness, these measures are all theoretically feasible. However, they seriously damage the interests of the capitalists, which I am afraid will cause trouble!"

Ferdinand smiled and said, "If it works, it works! The Bulgarian capitalists are so qualified that they will take care of the big picture! Our government will also have to explain in the newspapers. I believe they will understand!"

Rehn Holmann was a bit stunned when he heard Ferdinand's explanation. Was the Knyaz so naive as to believe that capitalists would sacrifice their own interests for the sake of the greater good?

However, it is not possible to find a way to stop it. Otherwise, if the word gets out and people know that he was involved in this, he will not ruin my reputation for a lifetime. Then again, the eyes of hope will be cast to the cabinet, as a result of the crowd is a look of approval.

The Bulgarian government has gone crazy. Or is the quality of the Bulgarian capitalists so high?