Earl of Derby frowned. The seemingly joking proposal wasn't entirely out of the question.
In fact, Britain was currently the Austrian Empire's biggest creditor. The latter probably had no intention of repaying its debt, but Britain had recovered its costs many years ago.
The two sides hadn't merely reached an unspoken understanding; they'd put an end to the matter by signing an agreement that required repayment of only a certain percentage of the interest.
Of course, any new loan to the Austrian Empire would require a new agreement. The problem was that relations between the two countries were now poor.
Especially when it came to the struggle over colonies. Although the Austrian Empire wasn't in direct competition with Britain, its allies and the so-called German Confederation's colonies often clashed with Britain.
Add to that the Mediterranean naval war and the grudge over Greece, the French question, the Balkan question, the Polish question, and the fact that the Austrian Empire was an ally of Russia, and the two sides had amassed deep-seated grievances.
Furthermore, the Austrian Empire had already threatened Britain with its debt once before. If Britain lent it money again, wouldn't that be like leading a lamb into a tiger's den?
But the armistice between Britain and the Austrian Empire wouldn't expire until 1853, so war between them was unlikely in the meantime. Besides, the latter was already bogged down in the Spanish quagmire.
Britain was now mired in economic crisis, and the financial sector's biggest problem was that no one dared spend money.
Although the financial crisis caused by the insurance industry had been averted, a great many insurance companies had still gone bankrupt or applied for bankruptcy protection.
Money in the financial sector that didn't move was dead money. If it didn't move, it meant losses.
Those