HOUSE_OVERSIGHT_025218.jpg

2.33 MB
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Extraction Summary

2
People
11
Organizations
8
Locations
2
Events
1
Relationships
4
Quotes

Document Information

Type: Financial analysis / economic report
File Size: 2.33 MB
Summary

This document is a J.P. Morgan Private Bank economic report (likely from late 2010 or early 2011) analyzing the Eurozone crisis, specifically focusing on the financial burden placed on Germany ('Germany as paymaster'). It discusses the potential costs of a permanent transfer union, citing a 'creditworthiness gap' of EUR 108 billion, and compares these costs to historical German economic burdens like Versailles reparations. The document bears a 'HOUSE_OVERSIGHT' stamp, indicating it was part of a document production for a congressional investigation.

People (2)

Name Role Context
Bernard Connolly Financial Advisor
Works at Hamiltonian Advisors; sent the author a paper from the Centrum fur Europaische Politik.
Carl-Ludwig Holtfrerich Researcher
Cited in the source for the 'Cost to German taxpayers' chart; affiliated with Halle Institute for Economic Research.

Organizations (11)

Name Type Context
J.P. Morgan Private Bank
Source of charts and likely the entity producing the report.
J.P. Morgan Securities LLC
Source of data for charts.
Hamiltonian Advisors
Employer of Bernard Connolly.
Centrum fur Europaische Politik
Research institute in Freiburg; produced a paper cited in the text.
Bundesbank
German central bank; members described as voices of opposition.
Halle Institute for Economic Research
Source cited in charts.
White Castle
Used in a metaphorical phrase ('White Castle hamburger-throwing moment').
Factset
Data source.
MSCI
Data source.
Eurostat
Data source.
OECD
Data source.

Timeline (2 events)

1929
Peak Versailles reparations (historical comparison).
Germany
2011
Projected decreased chance of disorderly default.
Europe

Locations (8)

Location Context
Primary subject of economic analysis regarding Eurozone costs.
Economic region analyzed.
Location of Centrum fur Europaische Politik.
Mentioned regarding execution risk and as part of the 'Periphery'.
Part of the 'Periphery'.
Part of the 'Periphery'; mentioned as growing at anemic levels.
Part of the 'Periphery'.
Part of the 'Periphery'; mentioned as growing at anemic levels.

Relationships (1)

Bernard Connolly Professional/Source Author (J.P. Morgan)
Bernard Connolly at Hamiltonian Advisors sent me a recent paper

Key Quotes (4)

"The third concern: Germany as paymaster."
Source
HOUSE_OVERSIGHT_025218.jpg
Quote #1
"If German citizens were faced with costs this high, it could be a White Castle hamburger-throwing moment of national proportions."
Source
HOUSE_OVERSIGHT_025218.jpg
Quote #2
"The chance of a disorderly default in 2011 has decreased markedly"
Source
HOUSE_OVERSIGHT_025218.jpg
Quote #3
"But how large are the costs going to be?"
Source
HOUSE_OVERSIGHT_025218.jpg
Quote #4

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