Bulgaria, Romania are the most vulnerable among European emerging economies in the event of a Greek exit from the euro zone
2012-06-11 17:07:03
Bulgaria and Romania have direct exposure to Greece, which makes them most vulnerable among European emerging economies in the event of a Greek exit from the euro zone, according to the Wall Street Journal.
Greek banks hold nearly a 30% of the Bulgarian banking market, a 20% share of the bank loans and one-third of all deposits.
In Hungary, whose heavily indebted country is also considered especially at risk, Prime Minister Viktor Orban has called on Poland, the Czech Republic and Slovakia to join hands to prevent parent banks from siphoning funds from subsidiaries in the region and to seek access to European Central Bank foreign-currency swaps, the Wall Street Journal points out, Novinite.com reports.