Euro adoption: Crunch makes euro attractive

Eastern Europeans think it could be a haven in troubled times.

The euro is poised to emerge as one of the biggest gainers from the global credit crunch as regimes across central and eastern Europe are rethinking their attitude toward the single European currency project. After years of high growth and rising foreign direct and portfolio investment, many countries in emerging Europe are now being buffeted by the chill winds of an economic and investment downturn and consequently are looking towards European monetary union as a potential safe haven from currency crises.

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