Mugur Isarescu, the governor of the National Bank of Romania, discusses Romania's tumultuous economic past, the health of its financial sector and pathways to future growth.

The Bank of the Year winners from central and eastern Europe.

The acquisition of an investment bank and subsidiaries across emerging Europe are transforming Sberbank from Russia's retail savings bank of choice into a genuine international player, just as Western competitors are retreating. But its management team is treading carefully.

Erste Bank Group’s CIO and head of group organisation and IT, Christian Gosch, explains how the bank has modernised and standardised its core banking networks to optimise its operating model across central and eastern Europe

The global financial crisis caused many corporates to review their treasury operations, with a large number reducing banking partners and signing up to shared technology platforms. Such changes, combined with the introduction of new regulations, such as the Single European Payments Area, have left many banks rethinking their global transaction services.

Market reforms are flooding the financial sector and banks are facing the challenge of managing their liquidity more efficiently. But the industry remains divided on best practice approaches to intraday liquidity management.

For the past five years, Poland's economy has been something of an anomaly in Europe, maintaining a healthy level of growth despite the widespread economic malaise surrounding it. But with many of the country's banks facing steep losses from foreign exchange mortgages and construction sector loans, and with parent banks looking to drain liquidity from their Polish operations, cracks are starting to show.

The EBRD has taken on a new region of operation at a time of unprecedented economic turbulence, but it has the resources and experience to make investments that can help transform troubled economies.

The euro is no longer fit for purpose and must be dramatically rethought before it breaks up Europe.