1. Slides CDS and debt yields

2. Response and Consequences Headline Support for the Financial Sector and Huge Upfront Financing Needs in Advanced Economies - total net costs may vary due to future assets disinvestment and loss from guarantees (As of April 15, 2009; in percent of 2008 GDP) COUNTRY Capital Injection (A) Purchase of Assets and Lending by Treasury (B) Central Bank Support Provided with Treasury Backing (C) Liquidity Provision and Other Support by Central Bank (D) Guarantees (excludes by deposit insurance agencies) (E) Total (A+B+C+D+E) Upfront government financing USA3,91,31,142,131,379,66,3 AT5,30003035,35,3 BE4,700026,230,94,7 FR1,21,30016,4191,5 DE3,80,4001822,23,7 GR2,13,3006,211,65,4 IR5,30002572635,3 IT1,3002,503,81,3 NL3,42,80033,739,86,2 PT2,40001214,42,4 ES04,60018,322,84,6 SWE2,15,3015,347,3705,8 UK3,913,812,9051,281,820,2 HU1,1004,71,16,91,1 PL0,40003,23,60,4 Rus0.30,53.2 0.57,70,8 JAP2,411,301,27,322,10,8 G20EU2.73.83.20.522.132.36.7 G201,92,5112,414,332,13,4 Emerging Economies 0,20,10,41,60,12,40,1 Source: IMF, UPDATE ON FISCAL STIMULUS AND FINANCIAL SECTOR MEASURES, April 26, 2009

3. Response and Consequences EU economic policy/rescues in the world context (discretionary measures only, non- discretionary automatic stabilizers excluded )  Different stimulus for different countries to improve real economy and bank portfolios…  Dependant on public debt/GDP ratio…  Double digit deficits in US/UK for 3-5 years ! Source: IMF UPDATE ON FISCAL STIMULUS AND FINANCIAL SECTOR MEASURES, April 26, 2009 3

4. CEE Sovereign Debt and its costs: CDS Source: Reuters BPS

5. CEE Debt and its costs: CDS Source: Reuters Thomson Reuters Proprietary CDS Indices

6. CEE Debt and its costs: T-Bonds Source: Reuters Reuters 5Y T-Bond Yields Rus Hu PoL CZ