ASSESSMENTS

Romania: The Global Financial Crisis' Next Victim?

Oct 27, 2008 | 22:01 GMT

DANIEL MIHAILESCU/AFP/Getty Images

Summary

Standard & Poor's on Oct. 27 lowered Romania's foreign currency debt rating to "junk" status. In the midst of the global credit crisis, Romania faces the possibility of speculation and currency depreciation, along with a rate cut likely to spawn other interest rate cuts throughout Central Europe and the Balkans.

Romania, like other emerging European markets, appears to be on the verge of getting churned up in the global financial crisis....

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