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Danske Bank sees Romania vulnerable to the Greek crisis

Bulgaria, Romania and Hungary are eastern European countries whose economic markets are most vulnerable to a 'contamination' from the Greek crisis, according to the research institute Capital economics quoted by Bloomberg.

'Worries referring to the desperate financial situation in Greece have reached high quotas lately, while eastern European financial markets felt it,' economist Neil Shearing, a specialist in emerging markets from Capital Economics said.

No country is immune to the problems of Greece and financial markets in the are likely to suffer even more, at least until the situation is under control, he explained.According to Bloomberg, east European bonds and currency have not been affected by the Greek crisis this week, in the context in which investors appreciated the efforts made by Hungary, Latvia and Romania, the beneficiaries of foreign aid, to reduce state expenses and salaries of state employees.

Considering the serious situation, we recommend investors to avoid markets in central and eastern Europe, Lars Christensen, the head economist of Danske Bank said. According to him the Czech republic will be the least affect by the crisis because of the solid economic foundation.

Lars Christensen and Danske Bank are well known for their pessimistic prognoses, their estimated for the euro/leu rate of 5lei/euro or the ones about internal unbalances, which made the governor ironically call him 'our friend Lars.'

Sursa: http://www.actmedia.eu

Tags: markets crisis greek danske romania euro

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