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Europe Needs You!




Christian Motzfeldt
7. November 2012
18,5
       7. november 2012 / page 2
Excessive Debt Levels

        900                  Gross debt in selected advanced economies, 2012 (% of GDP)
        800


        700

                                                                           Financial Institutions
        600
                                                                           Nonfinancial Firms
        500                                                                Households
                                                                           General Government
        400


        300


        200


        100


          0




Source: IMF, DB Global Markets Research                                     7. november 2012 / page 3
Excessive Debt Levels

        900                   Gross debt in selected advanced economies, 2012 (% of GDP)
        800


        700

                                                                                 Pension Liabilities
        600
                                                                                 Financial Institutions
        500                                                                      Nonfinancial Firms
                                                                                 Households
        400                                                                      General Government

        300


        200


        100


          0




Source: IMF, DB Global Markets Research, Freiburg Universität and own research    7. november 2012 / page 4
Age of Deleveraging




                      7. november 2012 / page 5
Transfer of Wealth




                     9 February 2011 / page 6
Haircuts – Writing Down Debt




                               7. november 2012 / page 7
Austerity




            7. november 2012 / page 8
Printing Money




                 7. november 2012 / page 9
The Ugly and the Beautiful Way!

                             United States      Euro area
       104

       103

       102

       101

       100

        99

        98

        97

        96

        95

        94
               2008   2009               2010               2011   2012


                        Real GDP, 2008 = 100
Source: OECD                                                         7. november 2012 / page10
Europe Has Lost Its Dynamism




                               7. november 2012 / page11
More New Businesses




                      7. november 2012 / page12
Europe Needs You!




                    7. november 2012 / page13

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Cm præsentation til nvf den 7 november

  • 1. Europe Needs You! Christian Motzfeldt 7. November 2012
  • 2. 18,5 7. november 2012 / page 2
  • 3. Excessive Debt Levels 900 Gross debt in selected advanced economies, 2012 (% of GDP) 800 700 Financial Institutions 600 Nonfinancial Firms 500 Households General Government 400 300 200 100 0 Source: IMF, DB Global Markets Research 7. november 2012 / page 3
  • 4. Excessive Debt Levels 900 Gross debt in selected advanced economies, 2012 (% of GDP) 800 700 Pension Liabilities 600 Financial Institutions 500 Nonfinancial Firms Households 400 General Government 300 200 100 0 Source: IMF, DB Global Markets Research, Freiburg Universität and own research 7. november 2012 / page 4
  • 5. Age of Deleveraging 7. november 2012 / page 5
  • 6. Transfer of Wealth 9 February 2011 / page 6
  • 7. Haircuts – Writing Down Debt 7. november 2012 / page 7
  • 8. Austerity 7. november 2012 / page 8
  • 9. Printing Money 7. november 2012 / page 9
  • 10. The Ugly and the Beautiful Way! United States Euro area 104 103 102 101 100 99 98 97 96 95 94 2008 2009 2010 2011 2012 Real GDP, 2008 = 100 Source: OECD 7. november 2012 / page10
  • 11. Europe Has Lost Its Dynamism 7. november 2012 / page11
  • 12. More New Businesses 7. november 2012 / page12
  • 13. Europe Needs You! 7. november 2012 / page13