German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
Eastern Europe to Avoid Recession Despite Global Financial Crisis
Business | November 27, 2008, Thursday // 00:00
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The ten Eastern European members of the EU will avoid the recession despite the global financial crisis, according to the Vienna Institute for Economic Studies. Photo by jonathanfryer4europe.com
The economies of the Eastern European states are going to avoid the recession despite the raging global financial crisis, according to an analysis of the Vienna Institute for International Economic Studies as quoted by BGNES.
The Institute study warns, however, that as a result of the crisis the region would experience lower economic growth because of the decreased foreign direct investments, and the limited access to credit.
According to the analysis, the combined GDP of the ten Eastern European EU member states (Estonia, Latvia, Lithiania, Poland, the Czech Republic, Slovakia, Slovenia, Hungary, Romania, Bulgaria) would grow by 5% in 2008, by 2,7% in 2008, and by 3,5% in 2010.
The Institute study warns, however, that as a result of the crisis the region would experience lower economic growth because of the decreased foreign direct investments, and the limited access to credit.
According to the analysis, the combined GDP of the ten Eastern European EU member states (Estonia, Latvia, Lithiania, Poland, the Czech Republic, Slovakia, Slovenia, Hungary, Romania, Bulgaria) would grow by 5% in 2008, by 2,7% in 2008, and by 3,5% in 2010.
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