In Search of Solidarity
Eastern Europe’s Financial Markets in the Global Financial Crisis
Deutsche Fassung
Abstract
The global financial crisis has also hit Eastern Europe. Since the liberalisation and privatisation of the financial markets in the European Union’s eastern states, the importance of the banking sector has grown, and the integration of these young financial markets in the global financial system has increased. The consequence is a greater vulnerability to crises. The new EU members cannot give sweeping declarations of guarantees as the West European states have done. European solidarity is being put to the test.
(Osteuropa 12/2008, pp. 25–40)