Wednesday, April 22, 2009

Financial Forecast for Eastern Europe

According to Russia Today and the report they published on March, the 9th, 2009,"The European Union has rejected a 190 billion euro bailout for Central and Eastern European members in deep economic crises. Now the prospects for Eastern Europe are gloomy at best." Watch the following video and tell us more about:
- Which country scored the worst result among the 27 EU countries (a drop of more than %10)
- Which country's economy is "laying in ruins" (its GDP dropped by %20) and why?

1 comment:

  1. In the video is said that the most affected by the economic "earthquake" are the Baltic states. Nevertheless, they rejected any help from outside and their problems,as specialists say, will be greater.
    Latvia has registered the worst result among the 27 EU countries. Its GDP dropped down for almost %10 from 2008. They asked the International Monetary Fund for help, but in the same time, they try to minimize their contacts with other states, especially with Russia. That's why Latvia is mostly on its own now.
    Ukraine's economy is said about to be "laying in ruins" as its GDP in January was down for %20 from last year. This affected the population because there are more than 1 million of unemployed people and this number is expected to rise till the end of this year. Like Latvia, Ukraine refused any help from Russia, for example, a credit of $4 billion, but its economical and political instability and the high level of corruption will make the things get worse if they are not solving the problem...
    I am optimistic and I hope we will all get through this economic crisis :|