Standard & Poor's: Bulgaria among Eastern Europe States Vulnerable to Crisis
The economies of Bulgaria and Romania are much more vulnerable to the effects of the global financial crisis compared to those of Poland, the Czech Republic, and Slovakia.
This becomes clear from a report of the financial analysis agency, Standard & Poor's, cited by the Financial Times.
Standard & Poor's has divided the Eastern European states in two groups: the first group of Poland, Slovakia and the Czech Republic, whose economies have seen better management and have more stable public finances.
The second group of more vulnerable Eastern European states includes Bulgaria, Estonia, Latvia, Lithuania, Hungary, and Romania, which have large current account deficits.
Standard & Poor's has reduced substantially Latvia's credit rating as the Baltic state has been affected the most of all 27 EU member states.
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