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本文內容純屬作者個人意見，在任何情況下，不得一部或全部被解釋為代表兆豐金融控股公司。

The Aftermath of European Sovereign Debt Crisis. Dr. Chung-Hsing Chen EVP, Mega Financial Holding . 本文內容純屬作者個人意見，在任何情況下，不得一部或全部被解釋為代表兆豐金融控股公司。. What it takes to make it work? . Leadership Architect Debt restructuring: sovereign, bank restructuring, and corporate

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本文內容純屬作者個人意見，在任何情況下，不得一部或全部被解釋為代表兆豐金融控股公司。

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  1. The Aftermath of European Sovereign Debt Crisis Dr. Chung-Hsing Chen EVP, Mega Financial Holding • 本文內容純屬作者個人意見，在任何情況下，不得一部或全部被解釋為代表兆豐金融控股公司。

  2. What it takes to make it work? • Leadership • Architect • Debt restructuring: • sovereign, • bank restructuring, and • corporate • But, it’s more than debt restructuring, • Fiscal discipline • Patience

  3. Leadership? Chancellor Angela Merkel Catherine II the Great of Russia

  4. Who’s the Boss

  5. Man of the Year? German Finance Minister Wolfgang Schauble ECB President Mario Draghi

  6. But, it’s more than debt restructuring! • It’s politics too, and it’s everyone for themselves. But, • Who has the money? • Who has the vision? • Who has a long term game plan?

  7. 中國大陸經濟與金融展望 Fiscal Discipline 治人事天，莫若嗇 • Defusing liquidity crises: • ECB actions • Stability: • Bail-out fund (EFSF) needs to be used wisely. • House cleaning: • Austerity measures will lay the foundation for economic growth. 老子道德經

  8. 中國大陸經濟與金融展望 Patience 治大國若烹小鮮 • Things are moving slowly, but steadily and positively. • Resolving banking liquidity crises first • Defusing sovereign debt crises • Cleaning the mess to build for sustainable growth • No need to rush: • Rushing the fiscal union and banking union may be a repetition of mistakes. 老子道德經

  9. Conclusion 企者不立，跨者不行。 老子道德經第24章

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