Insider trading in front of and behind the scenes continues, and the casualty reports of the European War are finally out. There is no doubt that both sides of the war suffered heavy losses, and the war was the most tragic in history.

According to the Vienna government, the war directly led to a decline in the population of the European continent by more than 12 million. Except for the more than four million immigrants who left, the rest died in the war.

Statistics:

Among them, 2,377,000 soldiers of the anti-French alliance were killed and 1,920,000 civilians died. The specific data is as follows:

Austria: 742,000 soldiers killed and 28,000 civilians killed (including colonial wars)

German Confederation: 582,000 soldiers killed and 587,000 civilians;

Belgium: 273,000 soldiers killed and 556,000 civilians killed;

Spain: 21,000 soldiers killed (civilian deaths negligible)

Switzerland: 6,000 soldiers killed (civilian deaths negligible)

Kingdom of Sardinia: 176,000 soldiers killed and 465,000 civilians killed (including guerrillas, local rebels)

……

France: 3,206,000 soldiers were killed, including 1,368,000 in colonial legions, 417,000 in Italy, 1,421,000 in native soldiers, and 886,000 among civilians. (including civil wars)

Looking at the stacks of cold data in his hands, Franz sighed. Except for a slightly shorter duration, the ferocity of the war did not weaken the original battle in the first place.

In particular, the number of civilian casualties far exceeded that of the original time and space. In addition to the spread of the fighting area, what is more important is the result of the expulsions.

Even the Vienna government's immediate rescue efforts did not reduce the mortality rate much.

The old, the weak, the sick and the disabled could not withstand the toss, and many people who were not strong enough fell on the way to flee, and there was no time to accept help.

And that's just the civilian death toll on the continent. If the civilian death toll in the Upper Colony is counted, the final figure may be doubled.

With so many deaths, not to mention casualties. Because the number of casualties can be accumulated, it is easy to double the statistics, and it is impossible to be accurate anyway, and the Vienna government is too lazy to bother with this effort.

After half a sound, Franz sighed: "Judging from the current situation, France is basically a waste!" If nothing happens, they won't want to recover for thirty years. ”

In any respect, the French are now in a worse situation than they were in the original time and space.

Although they also suffered heavy losses in the first war of the original time and space, France was the victorious country and got the war dividends, and there was no loss of colonies and the mainland.

Now it's different, not only have they lost a lot of money, but they have also lost all their net worth, and what awaits them next will be a long career of repaying debts.

Even if it wanted to emulate the German San and be reborn, France did not have the capital for revival. Needless to say, the country's collapsed economy and, more importantly, they don't even have a revival population.

As the protagonist of the European War, France's population losses were not small. More than 2 million people died directly, and the number of disabled people is not estimated to be much lower. Add in the departure of immigrants, and the number is even larger.

Based on empirical estimates, Franz was able to conclude that there was a disconnect in the French labor force, especially the acute shortage of male labor.

These problems cannot be solved, and the population of France will fall into negative growth for a long time to come.

Just look at the Russians next door. Originally, it was the largest country in Europe in terms of birth rate, but after several wars, the birth rate fell rapidly, and even experienced negative growth for a time.

The hairy bear was able to recover in just a few years, because the Russians were highly motivated to give birth, and the French people were not keen on creating people.

If the economy does not recover, it is estimated that the birth rate of France will hit a record low after the war.

The population growth rate of France after World War I is very referential, with an increase of more than one million people in 20 years. After excluding the population growth caused by immigration, the population growth rate in France is directly negative.

In the era of Industry 2.0, if there is a shortage of labor, then don't think about anything. Austria's ability to become the world's number one economic power is due to a population that far exceeds that of its competitors.

If Austria, like France, had fallen into a bottleneck in the nineteenth century, no matter how hard Franz tried, he would not have been able to build a great empire. 19th Floor Literature

"The French still have some family background, and as long as the war is over, they will still be able to maintain it.

Now the worst are Belgium and the newly independent Italian states, whose economies have completely collapsed in the war, and they are a complete mess.

If it weren't for our support, they would have gone hungry a long time ago. Restoring the economy is no less difficult than fighting another continental war. ”

It can be seen that Prime Minister Karl is now very troubled. When fighting, it is naturally better to have many allies, and it is definitely cheaper to rush to the top than to fight alone.

When the war ended, the situation was very different. Anyway, everyone has also squatted in the trenches. Carried guns together, shed blood together. The little brother can't go down and comes to ask for help, and it's really unreasonable not to pull it.

It's okay to pull a handful, the point is that it's not something that can be pulled up with a handful. The wounds left by the war were so great that both Belgium and the Italian states were now poor and white.

When will it be self-sufficient, who can't answer the question. Anyway, I don't have a few years of effort, so I don't want to slow down.

As the biggest victor of the war, the outside world only saw the scenery of Austria, and no one knew that the Viennese government was shy.

Although the war was over, the Austrian government's debt was still rising sharply. Money is needed for domestic aftermath work, money is needed to rebuild the Rhineland, money is still needed to unify the German region, and money is still needed to support the younger brother.

Had it not been for the title of "hegemon", the confidence of the capital market in the Austrian government had risen to an unprecedented level, and the Vienna government was now not far from a financial crisis.

Franz rubbed his forehead: "You can't give money directly." The war is over, and they have to learn to be independent. After the Vienna Peace Conference, there will be a showdown with them.

If you want to get money, you have to follow the rules of the market. We can issue bonds to them or we can issue bonds for them, but the interest rate is determined by the market. ”

In fact, the assistance provided by Austria has never been gratuitous. However, compared with the capital market, the funds provided by the Vienna government are the highest conscience of capital.

"Interest-free loans", and there are still no strings attached, and there is no such conscientious creditor in the world.

However, this "conscience" is time-limited. In order to fight the French during the war, the Vienna government was naturally full of "conscience". Now the war is over, and the "conscience" is exhausted.

Frankly speaking, if it weren't for the fact that too many bills had been printed in the past, and there were concerns about the repayment ability of various countries, it would not have hurt to continue to issue interest-free loans.

After all, what is lent out is Aegis, not gold. Now that the Aegis has been taken, the post-war reconstruction of countries cannot be separated from Austria.

Through trade, most of this money will still flow back to the country, which will promote the economic development of Austria, and the Vienna government will not lose money.

Unfortunately, during the war, the Viennese government had already started the printing press, and now there is a surplus of Aegis in circulation on the market.

If you play like this again, it will obviously be out of place. In case something goes wrong at any point, inflation is a matter of minutes.

In order to stabilize prices and the value of the Aegis, the Vienna government also had to find ways to recover surplus banknotes in the market, such as issuing bonds.

Against this backdrop, it is only natural that the Vienna government's debt is mounting day by day. However, compared to the monetary hegemony of Aegis, this price is not worth mentioning.

After all, there is still one competitor - the "pound", which is far from the time to act recklessly.

Reinhardt, the Minister of Economics, reminded: "Your Majesty, the current intelligence is very special. Because of the war, there were doubts about the ability of the Belgian and Italian governments to repay.

In addition, the recent French debt default and the German federal debt default have stimulated the capital market, and the market as a whole is now in a cautious state.

Unless we provide them with credit guarantees, they will not be able to obtain financing in the capital markets.

The risks involved are very high, and according to the data we have gathered, the probability of a default on the debt of Belgium and Italy is as high as 90%. ”

I was prepared and knew that this was a high-risk business. But hearing the "90 percent probability of default" scared Franz.

Gambling is not played like this, no wonder no one cares about it in the capital market.

Austria provides guarantees that the probability of default is as high as 90 percent; If it is replaced by an ordinary financial institution, the probability of default is not 100%.

After a little hesitation, Franz decided to take the risk. After all, they are all allies, and the Vienna government can't watch them die!

If these little brothers are really finished, and then support the little brothers again, who can guarantee that the new government will continue to implement pro-Olympic policies. In case the British ran away, Austria's losses would have been great.