EFTA Document EFTA01458984

8 December 2015 World Outlook 2016: Managing with less liquidity !Figure 4: US and European M&A activity (left) and share buybacks (right) 2.500 2,000 1.500 1,000 500 0 • US Acquirer •WE Acquirer 700 • US (S&P 500) • Europe (Stoxx 600) 600 500 400 300 200 100 0 8 8 8 No 8 8 N 00000000 00000 NNNNNNNNNNNNN Am far 2 0 lS wroth* end a Nombre Sane DeunoM Sw "march I 66 6 6 6 61 6 c&)- c& "') c&'"' eeeeeeeeemeee 0000000 00000000 Overall these charts show that Europe