Financial Market Crisis and Global Imbalances: Consequences
for CEE and SEE Countries 27 March 2008, 6 p.m.
Venue: Urania (Dachsaal), Uraniastrasse 1, 1010 Vienna
Current
financial developments and global imbalances of savings and
investments are increasingly affecting economic developments.
The panel will discuss the consequences for transition countries
in Central, East and Southeast Europe. Many of these countries
exhibit high credit growth with current account deficits. That
raises concerns about the soundness of their financial systems
and of other vulnerabilities with important policy implications.
There are concerns that some of these economies are overheating
and that risks to macroeconomic stability are increasing. Speakers
will address the risks to sudden-stop type of crisis, the importance
of euro anchorage, the soundness of the banking sector, wage
pressures and room for policy adjustment.