Central and eastern Europe was only just beginning to recover from its 2008 crash earlier this year. Now the eurozone crisis threatens to be even more damaging to the region.
Foreign-owned banks – mostly from the eurozone – control about 80% of banking assets in central and southeastern Europe (excluding Turkey). The average loan-to-deposit ratio, although slightly lower than in 2008, is still dangerously high in these countries, as well as in parts of the former Soviet Union.
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