A SUPPLEMENT TO EUROMONEY/APRIL 1999: EASTERN EUROPE
“It is the chance of the century,” says Herbert Stepic, vice-chairman of Austria’s Raiffeisen Zentralbank (RZB). “We have emerging markets at our front garden. Bratislava is only 60 kilometres from Vienna. The growth rate is 40% to 60% in eastern Europe, double the growth rate in western Europe.” When the Russian economy collapsed, many investors thought all its neighbours would fall with it. But several countries in central and eastern Europe held on and turned the crisis to their advantage.
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