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高盛号称欧债危机无碍发财

高盛号称欧债危机无碍发财

Stephen Gandel 2012年06月04日
高盛总裁盖瑞•寇恩表示,高盛正在研究一旦欧元退出舞台,高盛的一部分业务可否用希腊货币德拉克马支付。同时随着欧洲竞争对手实力削弱,高盛已逐渐将其客户争取到自己手中。

    转化经济危机为生财良机,这种事我们或许可以指望高盛集团(Goldman Sachs)。

    过去数月里,美国各大银行都在争先恐后地向投资者证明,欧债危机并不会对其造成负面影响。然而,周四早晨,高盛集团总裁盖瑞•寇恩对一群投资者表示,他不仅不担心,相反还乐观地认为,欧洲潜在的经济危机将会为高盛带来盈利良机。

    寇恩称,即使目前的欧洲经济危机雪上加霜,高盛交易部门依然能够盈利。他说,随着欧洲的竞争对手实力削弱,高盛已逐渐将其客户争取到自己手中。寇恩还说,鉴于欧洲银行为解套财务危机可能被迫出售至少一万亿美元资产,高盛很可能由此获益。寇恩说:“我们的交易部门在任何环境中都能够盈利。我们有独特的定位,可以介入这些(欧洲银行的)资产销售,并将这些投资机会提供给我们的客户。”

    如果高盛真的从欧元消亡中获利,那么批评人士就更有话可说了。自经济危机发生以来高盛获取了巨额交易收益,高盛也因此被冠以新绰号“吸血乌贼”。高盛曾向希腊出售金融衍生品,后者得以借此掩饰自身的财政危机,高盛也因此在欧洲饱受诟病。

    高盛是否看空欧元前景,目前尚不明朗,但看得出公司正在为欧元崩溃做准备。寇恩表示,高盛花了很多时间,详细核查交易合同,以确定一旦欧元消失,他们的贸易伙伴是否有能力使用其他币种完成支付。寇恩说:“目前,我们正在调查客户能否用德拉克马或里拉支付。这是一个大问题。”

    根据高盛集团最近公布的财务报表,今年一季度高盛减持了希腊、爱尔兰、葡萄牙和西班牙政府债券,大幅增持意大利国债。一季度末,高盛持有25亿美元意大利政府国债,而在2011年底仅有2.1亿美元。

    寇恩称:“我们已经大幅减持所有欧洲周边产品。未来,我们还将继续减持。”

    译者:李玫晓/汪皓

    Leave it to Goldman Sachs (GS) to turn an economic calamity into a money making opportunity.

    For the past few months, the U.S.'s largest banks have been scrambling to prove to investors that Europe's debt crisis won't damage them. On Thursday morning, Goldman president Gary Cohn told a group of investors that not only is he not worried, but he thinks the potential financial crisis in Europe could be a boost to his bank's bottom line.

    Cohn said he was optimistic that his firm's trading desk could turn a profit if Europe's woes turn worse. He said Goldman is already starting to pick up clients from its now weaker European rivals. What's more, Cohn says Goldman could benefit from the fact that Europe's banks may be forced to sell off at least a trillion in assets due to their financial distress. "Our trading desk can make money in any environment," said Cohn. "We are uniquely positioned to intermediate these [the European bank's] asset sales and distribute these investment opportunities to our clients."

    If Goldman does turn a profit from the Euro's demise, it could add new fodder for the firm's critics. Goldman gained the nickname Vampire Squid, in part, because it generated huge trading gains in the wake of the financial crisis. The firm has already come under attack in Europe for selling derivatives to Greece that may have helped the country mask its financial problems.

    While it's not clear Goldman is betting against the Euro, the firm does appear to be preparing for its break-up. Cohn said Goldman has spent a lot of time going over its trading contracts to determine in part what if they trading partners have the ability to pay in different currencies if the Euro dissappears. "We have been working to find out if we could be paid in drachma or lira," says Cohn. "It's a big issue."

    According to Goldman's most recent financial statements, in the first three months of the year the bank cut back its exposure to the governments of Greece, Ireland, Portugal and Spain. Goldman however significantly increased its holdings of Italian debt. As of the end of the first quarter, Goldman owned $2.5 billion in debt backed by the government of Italy. That's up from just $210 million at the end of 2011.

    "We have dramatically reduced our exposure to all Europe peripherals," said Cohn. "We will continue to reduce that exposure."

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