Eastern European bailout proposed | WHAT REALLY HAPPENED


Eastern European bailout proposed

Europe's developing economies from Poland to Ukraine are facing their worst economic crisis since the fall of the Berlin Wall 20 years ago. Capital is fleeing Europe's east, sending currencies sliding and threatening the region with deep declines in output and employment, and a deluge of debt defaults. Poland's industrial output in January fell at a painful 15 per cent annual rate; its currency last week hit an all-time low against the Swiss franc.

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