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Eye on the Market, July 25, 2011
ks). If Italy or Belgium entered Europe’s Liquidity Hospital, a lot more money might be needed from European parliaments (in one worst-case scenario, Alliance Bernstein estimates that the EU lending facility would have to increase from 440 bn to 1.7 trillion Euros, mostly from Germany). Italy faces a multi-notch down
Page: HOUSE_OVERSIGHT_025217 →ports indicating a slowdown in manufacturing and service sector surveys. Michael Cembalest Chief Investment Officer Notes [a] Bundesbank President Weidmann, in response to last week’s package: “By transferring significant risks to the support-giving countries and their taxpayers, the Euro area has taken
Page: HOUSE_OVERSIGHT_025219 →Microsoft Word - 07-25-11 - EOTM - White Castle.docx
gn funding needs (including deficits) through 2013 - Billions, EUR 1,800 1,600 1,400 1,200 1,000 800 Greece package (in one worst-case scenario, Alliance Bernstein estimates that the EU lending facility would have to increase from 440 bn to 1.7 trillion Euros, mostly from Germany). Italy es EFSM 600 400 200 f
Page: HOUSE_OVERSIGHT_025223 →worst-case outcomes have been avoided (money market failures, bank runs, etc), but markets will remain nervous about Europe. > Bundesbank President Weidmann, in response to last week’s package: “By transferring significant risks to the support-giving countries and their taxpayers, the Euro area has taken
Page: HOUSE_OVERSIGHT_025224 →Eye on the Market, July 25, 2011
ks). If Italy or Belgium entered Europe's Liquidity Hospital, a lot more money might be needed from European parliaments (in one worst-case scenario, Alliance Bernstein estimates that the EU lending facility would have to increase from 440 bn to 1.7 trillion Euros, mostly from Germany). Italy faces a multi-notch down
Page: HOUSE_OVERSIGHT_031161 →reports indicating a slowdown in manufacturing and service sector surveys. Michael Cembalest Chief Investment Officer Notes [a] Bundesbank President Weidmann, in response to last week's package: "By transferring significant risks to the support-giving countries and their taxpayers, the Euro area has taken
Page: HOUSE_OVERSIGHT_031163 →Entities connected to both Alliance Bernstein and Weidmann

JPMorgan Chase
ORGANIZATIONJ.P. Morgan Securities LLC
ORGANIZATION
Barack Obama
PERSON
Bernard Connolly
PERSON
Ronald Reagan
PERSON
Harry Reid
PERSON
Mitch McConnell
PERSON
Office of Management and Budget
ORGANIZATIONthe Gang of Six
ORGANIZATION
Belgium
LOCATION
the Heritage Foundation
ORGANIZATIONMichael Cembalest
PERSON
Bundesbank
ORGANIZATION
White Castle
ORGANIZATIONThe Peterson Foundation
ORGANIZATIONthe Monetary Union
ORGANIZATIONthe German Social Democratic Party
ORGANIZATION
the Institute of International Finance
ORGANIZATIONLiquidity Hospital
ORGANIZATIONHamiltonian Advisors
ORGANIZATION