Emerging Europe Economics Update Markets still overstating pace of tightening (Jun 10) Marek Belka was recently sworn in as the new President of the National Bank of Poland, and his impressive credentials as a former head of the IMF’s European Department make him a safe pair of hands... 18th June 2010 · 1 min read
Emerging Europe Economics Update Russian reforms a small step in the right direction In a speech to the St. Petersburg International Economic Forum this morning, President Medvedev unveiled a series of market-friendly reforms including changes to the capital gains tax regime and a... 18th June 2010 · 1 min read
Emerging Europe Economics Update Region’s banks still facing a tough time Our latest ‘Heat Map’ suggests that pressures on the region’s banks have eased in recent months. Capital levels have been rebuilt and loan to deposit ratios are falling. But familiar vulnerabilities... 16th June 2010 · 1 min read
Emerging Europe Economics Update Is Romania on the brink of another political crisis? The Romanian government looks set to scrape through tomorrow’s no-confidence vote, thus averting a fresh political crisis and keeping relations with the IMF on track for now. But with the vote... 14th June 2010 · 1 min read
Emerging Europe Economics Update Franc’s surge a reminder of fragility of East Europe’s banks The recent surge in the Swiss franc has rekindled fears over the health of Eastern Europe’s banking sector. As it happens, the bulk of foreign currency lending in the region has taken place in euros... 11th June 2010 · 1 min read
Emerging Europe Economics Update Hungary still walking a fiscal tightrope The announcement of a renewed fiscal squeeze in Hungary should help to ease market fears of a ‘Greek style’ crisis in the country. But the policies unveiled earlier today sidestep the underlying need... 8th June 2010 · 1 min read
Emerging Europe Economics Update Turkey to stay ahead of the pack The bulk of the region is now experiencing a strong rebound in manufacturing, with Slovakia and Turkey at the head of the pack and Romania lagging behind. The key, however, is whether the recovery in... 8th June 2010 · 1 min read
Emerging Europe Economics Update Centre-right wins in Czech Republic, tough times lie ahead The recent elections in the Czech Republic appear to have produced a strong centre-right coalition, which will step up efforts at tackling the public deficit. But the looming fiscal squeeze adds to... 1st June 2010 · 1 min read
Emerging Europe Economics Update PMIs still pointing to strong growth in industry Manufacturing PMIs from across the region remain consistent with continued strong growth in industrial production over the coming months. The problem, however, is that there is still little sign of... 1st June 2010 · 1 min read
Emerging Europe Economics Update Polish rates going nowhere regardless of new NBP Governor The proposed appointment of Marek Belka, a well-respected, pro-market economist, as the new Governor of the National Bank of Poland is not yet a done deal. But regardless of who takes over at the helm... 27th May 2010 · 1 min read
Emerging Europe Economics Update Worrying early signs from Hungary’s new government Hungary’s new government has got off to a disappointing start, with early signs suggesting that economic populism will take priority over much-needed fiscal reform. 26th May 2010 · 1 min read
Emerging Europe Economics Update How does Estonia stack up against the euro-zone? Estonia’s low level of public debt sets it apart from the heavily indebted countries on the periphery of the euro-zone. But the country has seen a much bigger erosion of its competitive position over... 25th May 2010 · 1 min read
Emerging Europe Economics Update Russian industry surges but from a low base The surge in Russian industrial production growth in April is not quite as good as it appears at first sight since it is flattered by base effects stemming from the collapse in activity last year. In... 19th May 2010 · 1 min read
Emerging Europe Economics Update Politics comes into play in Hungary (May 10) Concerns that the new government in Hungary will jeopardise the independence of the National Bank appear to be coming to fruition. While much remains uncertain, it seems clear that PM Orban will now... 18th May 2010 · 1 min read
Emerging Europe Economics Update Russia: low debt levels mask mounting fiscal risks Russia’s public finances are a picture of health compared to those economies in the euro-zone’s periphery. But if oil prices drop further, as we expect, spending may have to be cut in real terms for... 18th May 2010 · 1 min read
Emerging Europe Economics Update Q1 GDP data paint a mixed picture Q1 GDP data released this morning from across Emerging Europe paint a mixed picture. While the economies in Central Europe all grew on a quarterly basis, those in Southern Europe contracted once again... 12th May 2010 · 1 min read
