Emerging Europe’s Deleveraging Dilemma

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Since 2011, the eurozone-based parent banks that dominate emerging Europe’s banking sector have been under pressure to deleverage – with potentially serious consequences for a fragile region. By ensuring orderly deleveraging, multilateral lenders and private banks can help to put emerging Europe on a more sustainable growth path.

LONDON – Serbia’s Tigar Corporation, a privatized automobile tire and tube maker, was a poster child for corporate makeovers in transition economies. Then eurozone deleveraging kicked in, and now the child in the poster is in serious trouble.

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