Recently, foreign media reported that the authority, with the spread of the Greek debt crisis, a number of major hedge funds are shorting the euro sharply. Chinese and foreign reporters several agencies, most agencies believe that hedge funds shorting the euro as a basic condition is that if there is no saving measures in the second quarter, overall escalation of a crisis, the euro zone.
Wall Street Journal, 25, sources said citing people familiar with, SA C Capital A dvISors LP, Soros Fund Management Company and representatives of several other fund companies, most recently in New York to attend a private dinner at the dinner on Several hedge fund managers believe that the euro against the dollar (1.3635,0.0017,0.12%) may fall to parity levels. With the deepening concerns about the financial crisis of Greece since the end of last year, 11 since the euro against the dollar has tumbled more than 10%.
International authorities to disclose the data show that since late last year, hedge funds have bought against Portugal, Italy, Greece and Spain, a debt default swap products, and put the euro to start building positions. Traders said hedge funds recently have been the hands of those who seek to hedge the risks inherent in European government bonds, the banks sold these swap products.
Also at the February 25, the European Central Bank published data showed the euro zone in January compared with the private sector lending fell 0.6 percent last year, triggered the market's concerns about the strength of Europe's economic recovery. Here the British "Financial Times" comment is that, in the next two months, if not actively rescue means inevitable escalation of the crisis in the euro area, its negative impact on the global economic recovery will be further demonstrated.
Last year in December, the Greek sovereign debt crisis first broke out, the world's three major rating companies have cut the rating to Greece and the euro fell sharply against the U.S. dollar six-month low. Greece, in 2009 budget deficit is expected to reach 12.7% of GDP, public debt to GDP ratio will reach 113%, both far exceeding the European Union's 3% and 6% ceiling.
"At present, the Greek debt crisis, the momentum seems to be spread, if not to take timely measures to resolve them, other euro-zone countries will face similar problems in the second quarter of this year, the euro zone will be fully upgraded the crisis." Citigroup chief economist for the euro area Michels said.
Standard & Poor's analysts believe that if no effective measures, Greece, in 2010 the scale of public debt will reach 125% of annual GDP, the highest in the euro-zone countries, the debt burden. To solve this problem, the euro zone has repeatedly said he would not take the initiative to help Greece. As a result, the increasingly serious sovereign debt led to Greece fell into debt and the promotion of the plight of the dual pressures of economic growth.
European media said that the sovereign debt crisis has emerged in a number of European countries, the euro exchange rate has become unstable, the decline in value. Dubai crisis, apart from Greece, Spain, Portugal, Italy and other sovereign debt credit ratings were cut or a warning.
Last week, an interview Chinese textile, Chinese chemical industry associations nearly 10 chambers of commerce, as well as a number of international research institutions, they say, with the second-quarter euro-zone crisis could escalate, the euro zone's trade protectionism will rise.
Jun Ma, chief economist for Greater China at Deutsche Bank, said last year's European currency until November had previously been a significant appreciation, which in the next three to five months will be reflected on the European economy, especially its export in vivo. "Euro-zone exports restrained, which is likely in the next three months of import restrictions." Ma told reporters.
The recent depreciation of the euro letting a three-month euro-zone imports of weakness. Chinese Chamber of Commerce study reported that since December 2009, the euro fall more than 9%. The continuing weakness of the euro will have the purchasing power of the countries within the euro zone and the ability to pay have caused a great negative impact.
zhejiang yiwu international mall market observers Fang Tung told reporters that "the current situation is still not serious enough to make Yiwu foreign trade companies are anxious and fail to the point. However, there came the news of the recent mass is indeed not very optimistic, Spain States will also be caught in sovereign debt crises, Zhejiang exporters are paying close attention to momentum for development. "
Zhejiang Yiwu commodity market, according to statistics, in 2009, Yiwu commodities were exported to 189 countries and regions, export out the top ten countries were the United States, the United Arab Emirates, Germany, Spain, Russia, Britain, Italy, Brazil, Iran and India, in the Yiwu, the country's exports to the EU rankings, Spain second only to Germany, with exports amounting to 92.8 million U.S. dollars.
Beijing Tongzhou decorated merchandise exports has been engaged in legitimate business, Wu Yalin Commenting on the recent one, the great British retreat a single customer, said, "orders have just began to increase, not long after the outbreak of several countries in the European sovereign debt crisis, the customer will cancel the just - decided by the number of bridal accessories list, both of which must have some relevance between. "
"Chinese companies must guard against the EU's trade protectionism." China International Chamber of Commerce official said the financial crisis, the EU economy into major recession, but also led to rising unemployment, public deficit surge, as well as members of a serious division in the interests of a series of deep-seated contradictions in individual countries even in the face the dilemma of social order and instability. In order to ease the internal pressure, the EU and its member states in foreign trade shows that before the crisis more serious than the protectionist tendencies, over the years has maintained a trade surplus of China for its trade protectionist forces in Europe a "target of public criticism."
The EU Ambassador to China Chamber of Commerce chairman Wuttke had also expected, the trade frictions between the EU will intensify this year, the EU trade disputes against China in the second quarter or second half of this year increased significantly.
According to China's Ministry of Commerce statistics, the implementation of EU anti-dumping measures are still up nearly 60 since the outbreak of the financial crisis, anti-dumping measures imposed on the total accounted for more than 30%. According to statistics, in January 2009 to December, the EU's newly launched six anti-dumping investigations, involving 740 million U.S. dollars, respectively, involving Chinese exports to the EU of glucose sodium, aluminum alloy wheels, high-tenacity yarn of polyester products.
"China's exporters, the euro area should be paying close attention to the development of national crisis situation, concerns related to products of Europe's newly Import and Export Ordinance and quality, environmental standards, packaging, and other rules changes, in order to avoid unnecessary losses." China International Chamber of Commerce in charge of the person said.