Head of European reconstruction bank says revival of central Europe’s markets won’t come fast

The revival of Central and Eastern Europe’s flagging economies will not come quickly, the head of the European Bank for Reconstruction and Development Erik Berglof said on Friday. He added that the region was suffering from an outflow of foreign capital. Mr Berglof did say, however, that the Czech economy was starting to show some signs of stabilization. The figures are bad, he said in an interview with Reuters, but the data doesn’t look too dramatic overall, he added. According to Mr Berglof, Ukraine and Latvia were the countries in the region worst affected by the current financial crisis.

Author: Rosie Johnston