12/03/2008
KBC and eastern Europe, problems in sight ?
The European Voice - a weekly for Eurocrats in Brussels - publishes on its first page an alert from an important European banker that if the banks in Western Europe continue to refuse to lend to banks in Eastern Europe that more countries in Eastern Europe will have to turn to the IMF or go broke.
"EU banks with substantial operations in eastern Europe include Unicredit Group and Intesa of Italy, Erste Bank Austria and Raiffeisen Bank Austria, Alpha Bank and Piraeus Bank of Greece, and Swedbank and SEB of Sweden"
I remember that KBC was proud of its investments in the East......
as was Dexia with its US operation and Fortis with its takeover.....
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