EFTA01461071

'Figure 9: illustrative regression analysis 180% NIP as % of GCP 130% 80% 30% -20% Preacted NIP: 32% — -120% -10% .• • ••• • • .• •t • • • . =08382 Gap in current EMU NIP -5% 5% ID% Laitye D.asrhe Rank 14v or Current account as %of GDP 15% 20% ( Figure 12: NIIP will not stabilize for years depending on size of Euroglut con 4.000 3,000 2.000 1.003 -1.000 PrOJOMS0 NM, eta my • bassi ine scenar• Curse ex* 7' Okrew• coMO ?yet 1999 3002 3X6 2030 2011 3314 V17 2020 2CC3 2T6 3229 3232 Earn. 13.01• Po liana George Saravelos FX and Rates Strategy Deutsche Bank AG. ramie London Global Markets Winchester Home, 1 Great Winchester Street. EC2N 208 London. United Kingdom Tel. Email CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0122890 CONFIDENTIAL SONY GM_00289074 EFTA01461071