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High Current Account Deficits And Domestic Credit Levels Point To Vulnerability Of East European Economies, Says Report Feb 09 Product Image

High Current Account Deficits And Domestic Credit Levels Point To Vulnerability Of East European Economies, Says Report Feb 09

  • Published: February 2009
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • Bulgaria (Republic of)
  • Czech Republic
  • Estonia (Republic of)
  • Hungary
  • Latvia (Republic of)
  • Lithuania (Republic of)
  • MORE

Abstract
PARIS (Standard & Poor's) Feb. 24, 2008--The resilience of Eastern European economies seems to be crumbling under the weight of high foreign currency debt and the potential reprioritization of lending among foreign banks, says a report titled "Market Dislocation Exposes Vulnerability Of Eastern European Economies," published yesterday by Standard & Poor's. "The financial crisis that started to hit developed economies after August 2007 did not immediately affect East European economies," said Jean-Michel Six, Standard & Poor's chief economist for Europe. "In fact, through the first half of 2008 their economic prospects still appeared resilient. But in the second half of 2008, the effects of the crisis started to filter through the region and are now gathering momentum." As the report...

Companies mentioned in this report are:
- Hungary
- Czech Republic
- Slovak Republic
- Poland (Republic of)
- Romania
- Latvia (Republic of)
- Lithuania (Republic of)
- Estonia (Republic of)
- Bulgaria (Republic of)

Action: General Comment

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international READ MORE >

- Hungary
- Czech Republic
- Slovak Republic
- Poland (Republic of)
- Romania
- Latvia (Republic of)
- Lithuania (Republic of)
- Estonia (Republic of)
- Bulgaria (Republic of)

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