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InterviewsFebruary 16 2011

Why eastern Europe could outperform Asia

Erste Bank’s shares were hammered in 2009 as high-profile economists predicted that its central and eastern European markets would implode. Today, Erste CEO Andreas Treichl expects his bank’s core region to outperform the troubled eurozone - but he never doubted the prospects in the first place.
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Why eastern Europe could outperform AsiaAndreas Treichl, CEO, Erste Bank

The European Bank for Reconstruction and Development forecasts the average gross domestic product growth rates for the eight central European transition economies at 3.2% in 2011, comfortably outperforming any other eurozone countries.

This confounds the fears of an economic meltdown in central and eastern Europe (CEE) that caused the shares of leading Austrian banks to take a pounding in 2009. But do not call it a turnaround – at least, not in the presence of Andreas Treichl, CEO of Austria’s Erste Bank, which operates subsidiaries in seven CEE countries.

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