Latest articles from Central & Eastern Europe

Silver linings

October 4, 2004

Moscow-based Globexbank is one of Russia’s top 10 banks, and the crises of the 1990s and the recent mini-crisis have made it stronger. Ben Aris reports.

Tapping resources

October 4, 2004

With Russia’s banks failing to lend, it’s left to Russian companies to fend for themselves, showing an upturn in project finance.

Bonds hold back

October 4, 2004

Ben Aris reports from Moscow on how the banking crisis and policy changes have all but stalled the domestic bond market.

Hidden layers

October 4, 2004

Ben Aris reports from Moscow on the project finance legal reforms put forward by President Putin that look positive on paper, but in reality are fraught with difficulties.

Proof of worth

October 4, 2004

Ben Aris meets Alexander Levkovsky, Promsvyazbank’s president and chairman of the board, and asks how Promsvyazbank has stormed ahead of its rivals.

A rock and a hard place

October 4, 2004

Ben Aris in Moscow reports on the frustrating situation whereby Russian industry is experiencing a boom but is finding it more than difficult to secure finance from the banks to facilitate the expansion.

Boom and gloom

October 4, 2004

The Russian economy may appear messy but Ben Aris asks whether the future really as bleak as it seems.

EU joiners boost growth

October 4, 2004

The banking sector of central & eastern Europe continues to grow strongly as the 15 economies (including the eight EU accession states) continue in buoyant mood. And further growth is expected as more go for EU status.

Delete New money laundering rules lead to chaos in Russian bank system

August 24, 2004

Russians have seen it all before; when the queues began to form outside banks that were refusing to pay out last month, panic began to set in.
A bank crisis that started in May with the closure of medium-sized Sodbiznesbank threatened to spin out of control after the large retail bank, Guta Bank, closed its doors and a run started on accounts at Alfa Bank, one of the two biggest commercial banks in Russia.

ERM II stirs up Prague’s quiet man

August 2, 2004

Sitting over lunch within view of Prague’s landmark Charles Bridge, Zdenek Tuma, the 44-year old Czech central bank governor, uncharacteristically lets rip.
“Two years is a nonsense, yes a nonsense!” he exclaims, speaking about the need for the Czech koruna to join the Exchange Rate Mechanism II (ERM II) for 24 months in order to ultimately join the euro.
He is not alone in his dislike of this condition of entry. Many other accession country central bank governors share his views.

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