A presentation about recent problems and solution in the European Union

2.  The EFSF
 Measure to save Greece
 New “problem country”: Spain

3.  The European Financial Stability Facility
 It’s heir: The European Stability Mechanism
 More firepower: 750 billion Euros
 Help from non EU-countries

4.  Registered company
 Best credit rating
 Provide Greece: 130 billion Euros
 Takeover by ESM

5.  The Private Sector Involvement
 Haircut of about 53.5%
 Greece Bond Holders
 A Voting in Athene

6.  Major European banks
 Allianze, Axa, Deutche Bank,…
 The National Bank of Greece
 German Bank: FMS Wertmanagement

7.  Property bubble
 Unrealistic investments
 Deficits to GDP too high
 4.4%5.3%

8.  Reduce spending cuts
 Negative influence: health, education,…
 Unemployment 23.3%10.1%
 Fitch Ratings: ‘A’’AA-’

9.  After great effort
 Progress?
 Realistic?