Many Eastern European countries have a strong need for external financing. Negative current accounts and dangerously high levels of short-term debt are raising fears of financial instability. EU leaders on March 1st rejected calls for a $229 billion rescue fund for struggling economies in the east. Instead of a single plan for the region, the EU will be taking a case-by-case approach. The following articles discuss the problems facing Eastern Europe.
Economist: The European Union-Ailing in the East
Economist: Ex-communist Economies
Barber: EU To Aid Countries in Eastern Europe
Wagstyl: Variable Vulnerability
Forelle: EU Rejects a Rescue of Faltering East Europe