For years, Austrian lenders Erste Bank and Raiffeisen Bank have enjoyed strong profits at their central and eastern European operations, but with growth in these economies slowing, more recent results suggest that they may need to rethink their strategies in the region.
The European Central Bank has helped assuage fears of an imminent eurozone breakup, but sovereign, supranational and agency debt management officials must still contend with ratings downgrades and difficult political and fiscal situations in a number of countries. The Banker hears from a range of EU issuers both inside and outside the eurozone.
Although not directly affected by the squeeze facing eurozone peripheral sovereigns and banks, central and eastern Europe is affected by its economic ties with the EU and the prevalence of western European banks in its markets. Philip Alexander hears from a range of European issuers outside the eurozone, including sovereigns, agencies, banks and corporates, on how the crisis has affected them.