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优秀精品课件文档资料 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, Europes 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 More mo