Epstein Secrets

bjections of a lone dissenter: Bundesbank President Jens Weidmann. And the undertaker was not ECB President Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a sinister southern European conspiracy; rather, it rendered itself irrelevant. Had it gotten its way, the

nt Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a siniste

rom 1998-2005, a term marked by Germany's strong support for NATO's intervention in Kosovo in 1999, followed by its opposition to the war in Iraq. Fischer entered electoral politics after participating in the anti-establishment protests of the 1960's and 1970's, and played a key role in founding Germ

objections of a lone dissenter: Bundesbank President Jens Weidmann. And the undertaker was not ECB President Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a sinister southern European conspiracy; rather, it rendered itself irrelevant. Had it gotten its way, the

nt Mario Draghi; it was German Chancellor Angela Merkel. The Bundesbank did not fall victim to a siniste

rom 1998-2005, a term marked by Germany's strong support for NATO's intervention in Kosovo in 1999, followed by its opposition to the war in Iraq. Fischer entered electoral politics after participating in the anti- establishment protests of the 1960's and 1970's, and played a key role in founding Germa

ll for now. The greatest political tests for Europe next year come from the refugee and terror crises. The conservative backlash in Germany against Merkel's initial welcoming is very gradually narrowing differences across countries on how best to address the refugee wave. The new terror dimension to t

New export orders Correlation = 0.62 1990 1995 2000 2005 2010 Source: ISM, Haver Analytics LP, Deutsche Bank Research 2015 1 Fed Vice Chair Fischer cited similar effects in a Jackson Hole speech earlier this year. Page 20 Deutsche Bank AG/London EFTA01476007 8 December 2015 World Outlook 2

” Second, to what extent will the rise of populism influence policies in the Eurozone? Here, Germany will probably provide a litmus test. Chancellor Angela Merkel and her coalition government are likely to respond to recent terrorist attacks there by proposing a stronger police and military presence, according

rorist suspects have already been arrested among them.°* With German elections scheduled for September 2017, it remains to be seen whether Chancellor Merkel will adjust her immigration policy. 28 | Goldman Sachs | JANUARY 2017 HOUSE_OVERSIGHT_014561 --- PAGE BREAK --- While populism is on the rise and

for September 2017, it remains to be seen whether Chancellor Merkel will adjust her immigration policy. 28 | Goldman

omic Club, September 15, 2016. Chair Janet L. Yellen, “Current Conditions and the Outlook or the U.S. Economy,” June 6, 2016. Vice Chairman Stanley Fischer, “Remarks on the U.S. Economy,” August 21, 2016. Robert J. Gordon, The Rise and Fail of American Growth: The US. Standard of Living Since the Civil