Word: regionalize
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...economies, either directly or through local subsidiaries. Austrian banks alone have a more than $293 billion exposure to Eastern Europe, roughly 80% of the Austrian GDP. When, on February 17, rating agency Moody's warned that it might downgrade a number of western European banks with exposure to the region, the euro plunged to a three month low of $1.26 against the dollar. "Given the combination of banking and trade links between Eastern and Western Europe that have been built up over the past five to ten years, it's clear that this cannot be seen as a self-contained...
...Says Lars Christensen, chief emerging markets analyst at Danskebank: "If this serious crisis is allowed to run its course without outside intervention, it could be near catastrophic for the region and the impact on the Western European banking system is significant...
...foreign currency debt held by households has tripled in three years to 12% of the GDP last year, with some 70% of mortgages taken in foreign currencies. In Hungary, foreign currency loans make up 62% of all household debt, up from 33% three years ago. Home owners across the region now face massive debts that they simply will be unable to pay back. "What's happening in these countries is a tragedy," says Christensen. (See 25 people to blame for the financial crisis...
...shore up investor confidence and stop the wholesale sell-off would be to get a coordinated response from the G20," says Shearing. "The market is being driven by fear and panic right now, which is what happens in a crisis. They could open up funding for the region through tie-ins with central banks in Western Europe or make available an IMF crisis fund of $500 billion for emerging Europe during the downturn...
...helps reinforce support for going green. "To us, going for lower energy use is like a sport," he says. That sense of communal competition is shared by Denmark's Scandinavian neighbors, and may help explain why countries like Sweden and Finland are also among Europe's greenest. On a regional level, cooperation is a necessary component of Denmark's success - the Nordic nations share an electrical grid, and Denmark can take power from its neighbors when there's no wind and sell it when the breeze blows. But it also has something to do with the way people...