Holy Roman Empire

Chapter 282: Debt Crisis

Chapter 282: Debt Crisis

While putting pressure on the Ottoman government, actions were also initiated in the African colonies. This time, there was no need to send troops from the homeland; instead, strongholds were established along the coast of Nigeria. The colonial forces were considered sufficient.

Not everyone realized that the Indian rebellion would persist. Many believed that once the British responded, they could easily quell the rebellion.

Guided by this mindset, the Austrian government moved quickly to capitalize on the situation and seize the opportunity.

During this time, fear of whites was widespread among Africans. The Austrian military quickly defeated several native tribes and established immigrant strongholds.

Colonel Nicos ordered, Quickly, reinforce the fortifications. The enemys counterattack is imminent.

A young military officer asked in confusion, Colonel, do we really have to be so careful? Its just a native kingdom. Why dont we just go in and wipe them out?

Colonel Nicos glared at him sternly and said, Abate, put away your arrogance. Any carelessness on the battlefield could lead to disastrous losses.

If you want to continue to serve in the military, you must always remain vigilant. Thats the most basic quality of a soldier. If you cant do that, I can send you back home right now.

Are African natives so easy to deal with? Have you never heard of the human wave tactic? This is Tukulor territory, they can gather tens of thousands to counterattack.

Dont think they all carry machetes and spears. They were sold guns and cannons a hundred years ago. Even if their weapons are somewhat outdated, dont take them lightly.

As a noblemans son, Abate came to the colony to make a name for himself, so naturally, he couldnt just go back home dejectedly just like that.

Since Austria began its colonization efforts, it had never lost a battle involving more than a thousand men, leading many to believe that the African natives were pushovers.

Now that he heard that the enemy was powerful, Abate was not afraid but excited.

Powerful is relative. Compared to tribal villages, the native kingdom may indeed be formidable, but compared to European nations, even the smallest states like Montenegro are more formidable.

The mere addition of firearms did not make an army modern. Rigorous training was still required to unleash the full combat potential.

Aside from other factors, the recoil of a gun alone means that someone who isnt trained has no idea where their bullet is going when they fire it.

Thus, in modern times, many ragtag armies may sound impressive on the battlefield. But when it comes time to count the casualties, it often turns out that hardly anyone has been killed.

Austria, as a great power, could afford to provide each soldier with hundreds of rounds of ammunition for marksmanship training, something the African native kingdoms could never afford.

Abate replied with his head bowed, Yes, Colonel!

Facts have proven that the Tukulor Empire is not a capable kingdom, retaining its essence completely. After waiting for more than a month, they finally organized an army that arrived late.

By this time, the preliminary fortifications of the colonial outpost were complete. Colonel Nicos, holding a pair of binoculars at the command post, sneered as he surveyed the chaotic enemy forces, Trash will always be trash!

Seeing the enemy encampment, Nicos couldnt help but admire their courage. To dare to set up camp within range of enemy naval firepower, he didnt know what to say.

Of course, the enemies of the Tukulor Empire were native African kingdoms, so they were unaware of the power of naval artillery. The distance of their encampment was determined based on past experience.

Not to mention the naval forces, even the artillery of the land army could hit them. Nicos lamented inwardly that he hadnt brought heavy artillery with him this time, otherwise, there would have been no need to call in the navy.

The rivalry between the army and navy exists in every country, and Austria is no exception. Of course, this conflict is mainly about military spending and hasnt reached the level of Japan, where the army and navy actively sabotage each other.

Colonel Nicos ordered, Abate, go inform the Navy to send warships for target practice. Tell them a group of fools has arrived who want to serve as targets.

Yes, Colonel! Abate replied.

Nicos somewhat understood how a mere hundred or so colonists could defeat an entire country. It was all down to ignorance. Ignorance breeds fearlessness.

He had already decided to lure as many enemy forces as possible. After all, the more enemies there were, the more glorious his achievements would be.

Unfortunately, exploits against African natives were not highly valued. Otherwise, defeating tens of thousands of enemy soldiers with just one regiment could have made history.

Antalya

Representatives from Great Britain, France, Austria, and the Ottoman Empire gathered to negotiate the conflict between Austria and the Ottoman Empire.

The Foreign Minister of the Ottoman Empire, Fuad, solemnly declared: We protest strongly against the Austrian occupation of Crete, which violates the Treaty of Vienna and infringes on our sovereignty.

The Austrian representative, Johannes, replied calmly: Mr. Fuad, please calm down. We did not occupy Crete, just a warship accident that needed repair, so we borrowed the place for a while. Rest assured that we will compensate you accordingly and will not borrow your territory for free.

As for violating the Treaty of Vienna, thats unfounded. The Treaty of Vienna is aimed at maintaining peace and stability in Europe, and as one of its signatories, we naturally abide by its provisions.

Now we are merely negotiating a transaction. We havent forced you to cede any land, so how can it be considered a violation of the treaty? Whether its successful or not, well decide after the negotiations are completed. Theres no need to get so agitated!

The British representative, Nigel, asked, Since this is a negotiation and the Ottoman Empire has now rejected this deal, shouldnt your country withdraw from Crete?

Johannes replied calmly, Certainly if the Ottoman government is not willing to accept this deal, we will not force it. However, with the emergence of two governments in the Ottoman Empire, the Sultanate lost the support of the people. Whether they can represent the will of the Ottoman people is still uncertain.

Responsibly, we believe its necessary to engage with the Caliphate government, understand their position, and then proceed with formal negotiations.

It was a threat, a blatant one. If the deal fell through, the Austrian government would not recognize the legitimacy of the Sultanate and would instead support the Caliphate government.

This hurt Fuad greatly, as they had barely managed to suppress the rebels and were on the verge of victory. If the rebels received support from Austria, who knew how long the civil war would last.

Fuad, lacking confidence, rebuked, Count Johannes, this is the internal affairs of the Ottoman Empire and you have no right to interfere!

Johannes patiently explained, Mr. Fuad, please be assured that we will not arbitrarily interfere in the internal affairs of your country. However, the actions of your government are deeply troubling.

We came in good faith to negotiate an agreement, but you refuse to even discuss it, completely disregarding the friendship between our two nations, which deeply saddens us.

Fuad replied sternly, Count, negotiations are based on the voluntary participation of both parties. Its not that we have any intention of refusing to negotiate with your country, but at the moment we have no plans to sell any land.

Johannes expression changed and he said coldly, Of course we wont force you to make a deal. Now, please repay your debt of 28 million gold guilders immediately. We will only accept payment in gold and guilders.

Fuad looked puzzled. Since when did the Ottoman Empire owe Austria so much money?

Count, I would like to know when this debt was incurred. As far as I know, our debt to your country does not exceed two million gold guilders.

Johannes calmly took a document out of his briefcase and handed it to Fuad, saying, This is the detailed debt statement. You can have someone verify it.

After looking at it, Fuads face turned bitter. He finally understood how this debt had accumulated. Theres another kind of debt in the world: debt transfer.

Due to financial difficulties in the Ottoman Empire, the Sultanate government recently declared bankruptcy and defaulted on many debts.

These uncollectable debts naturally became worthless. The Austrian government tried to buy these debts, and the creditors naturally did not refuse.

Getting something at a discount is better than getting nothing at all. Creditors who were unable to collect their debts from the Ottoman government had no choice but to cut their losses.

The Austrian government had the capacity and had already taken practical steps.

It was only fair to pay what you owe.

On this issue, even Britain and France cannot intervene; they are the worlds largest creditors, and if the debtors were allowed to default, they would suffer significant losses.

Although the Sultanate government did not default on its debts to them, they still had to acknowledge the legitimacy of Austrias debt collection.

From that moment on, the conflict between the two sides ceased to be a military one and became a matter of debt collection.

British representative Nigel suggested, Count, lets adjourn for now! This debt still needs to be verified, so lets wait until Mr. Fuad clarifies the matter.

Its purpose was simply to buy time. As for resolving the problem? Sorry, the Austrians had been planning for so long and relying on Nigels eloquence alone to make them give up would be too optimistic. Nigel didnt have that kind of confidence.

Johannes thought for a moment before he said, Well, lets reconvene in a week, by then Mr. Fuad should have had enough time to verify the authenticity of these debts.

However, Mr. Fuad, it would be best if you expedite the verification process. Each day of delinquency will result in significant late fees, and the longer this goes on, the more detrimental it will be to you.

Fuad wiped the sweat from his forehead and replied with a trembling voice, Count, rest assured, we will verify these debts as soon as possible.

He didnt think these debts were false. Since the Austrians had brought them to the table, there must be no issues. Johannes wouldnt joke about Austrias international reputation.