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Credit Crunch in CESEE?
Politics ♦
Published: August 7, 2013; 07:22 ♦ (Vindobona)
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The capital outflow in the CESEE region accelerates. The European Bank for Reconstruction and Development (EBRD) fears negative consequences for the real economy.
Credit Crunch in CESEE? / Picture: © Vindobona.org
According to EBRD, CESEE might face a credit crunch. In the CESEE region, about 60% of the banks are owned by West European banking groups. Since 2008, West European banking groups have been shifting € 130bn out of the region. This corresponds to 33% of the exposure of 2008.. In 2008, a first wave of capital outflow hit the CESEE region. In 2011, a second wave has started. Contrary to…
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