EU-Summit: EU Eastern Bloc Countries Victims of Over-borrowing in Foreign Currencies and Large Current Account Deficits

EU-Digest

EU Eastern Bloc Countries Victims of Over-borrowing in Foreign Currencies and Large Current Account Deficits

EU leaders at Sundays informal summit meeting are not expected to take concrete decisions. The next official summit, on March 19-20, is likely to take more binding decisions.At this summit Western European governments are expected to express alarm that, apart from the strains the world financial emergency is imposing on the eurozone's unity, contagion threatens to spread into their banking systems and economies from the crisis-ridden EU Eastern Bloc Nations. This Sunday's EU summit will therefore certainly address the issue of financial stability in the non-eurozone, new member states.