Posts Tagged ‘optimistic perspectives’

De ce ar trebui sa fim optimisti?

With open economies heavily geared to a eurozone recovery and cheaper wage costs, central Europe is still expected to grow faster than western Europe.

“The growth difference still stands,” says Herbert Stepic, chief executive of Austria’s Raiffeisen Bank International, one of the biggest operators in central Europe. “We see a growth difference for 2013 of about two percentage points between CEE as a whole and the EU.”

Other heads of big banks in the region share this cautious optimism. “We still consider CEE to be the driving engine for the growth of our group,” says Gianni Franco Papa, head of the CEE division of Italy’s UniCredit.

Central and eastern Europe to outpace west as lenders think local

The shadows that gathered last year over central and eastern Europe (CEE) have, little by little, started to recede.

This time a year ago, the eurozone debt problems were weighing heavily on sentiment, with talk of a possible “Grexit” – a Greek exit – from the eurozone that could tear the single currency apart.