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.
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