Epstein Secrets

OVERSIGHT_014575 --- PAGE BREAK --- Exhibit 41: European Commission Industrial Confidence Survey Eurozone business s

titative easing through December 2017. Meanwhile, the European Commission has endorsed a moderate fiscal easing of 0.5% of

conditions supportive of growth. While we expect the European Central Bank (ECB) to gradually shift to a more neutral stance

are assuming ever-ballooning asset purchase programmes by the , European Central Bank that stretch into an indefinite future. Oh, and a president of the European Commission who says the single currency makes no sense when the Schengen agreement fails. So then, in this world, what would be the “risk-free rate” that insti

en area is now festooned with immigration and customs barriers, and financial markets are assuming ever-ballooning asset purchase programmes by the , European Central Bank that stretch into an indefinite future. Oh, and a president of the European Commission who says the single currency makes no sense when the Schengen

ad, however, top officials have become even more insistent that austerity is the one true path. Thus in January 2011 Olli Rehn, a vice president of the European Commission, praised the austerity programs of Greece, Spain and Portugal and predicted that the Greek program in particular would yield "lasting returns." Sin

th unemployment marching ever higher. The one piece of good news is that bond markets have calmed down, largely thanks to the stated willingness of the European Central Bank to step in and buy government debt when necessary. As a result, a financial meltdown that could have destroyed the euro has been avoided. But that's