East Europeans Opt for Needless Austerity to Battle the World Recession
Contemporary Review › Band 291 Nr. 1693, Juli 2009
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Zusammenfassung
'The economic performance of most countries of Eastern Europe remains no weaker, and often stronger, than that in Western Europe. [...] while some countries now report dramatic falls in industrial output, the banking sector has remained more resilient than some worst-case scenarios had predicted' . Besides which, the rules of crisis lending are changing in response to the changing nature of the crisis.
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East Europeans Opt for Needless Austerity to Battle the World Recession
ALMOST all the developed world ranging from Britain, Western Europe, North America, Japan and Australia are in the grip of a deep recession. With varying degrees of misery all of these places are suffering a decline but increasingly politicians and economists are worried most about Eastern Europe.
Hungary's economy fell by 6.4 per cent in the first quarter of 2009 according to an official report (Reuter 15 May). Once the brightest economic hope of formerly communist-administered Eastern Europe, Hungary is set to suffer a severe and unnecessary self-inflicted wound by embarking on a brutal austerity programme as it seeks its separate way out of the world recession. The brunt of the projected economies...Siehe den Gesamtinhalt dieses Dokumentes
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