Sunday, March 1, 2009

9.2 Crisis summit rejects Sarkhozy style protectionism

The EU crisis summit ended with a promise to avoid protectionism. The Czech prime minister, Mirek Topolanek, who chaired the summit assured the press conference that the EU was not going to leave anyone in the lurch. However, Hungary's call for a 180B euro aid package for Central and Eastern Europe was rejected. Germany's Chancellor, Angela Merkel said that not all of the former communist countries were in the same boat and European Commission President Jose Barroso stated that the situation would have to be assessed on a country-by-country basis.

I came across this table in The Economist, which sums up the situation in a number of key emerging economies in Central and Eastern Europe:

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