EES Economic Talks in Frankfurt (GER), May 24, 2011

EES Economic Talks in Frankfurt with the Board of
the German Central Bank (Deutsche Bundesbank)
on the future of the Euro

With the newly appointed Member of the Deutsche Bundesbank, Dr. Joachim Nagel
we discussed all issues in the Euro Currency Area. The question of restructuring of
Greece was the main topic.

The German Central Bank sees the debt restructuring of Greece very critically.

Dr. Nagel defined and explained the tools and conditions for a kind orderly debt
restructuring for Greece without major knock-on effects on induce banks and other states.