CEE markets unmoved by euro timetable: Unicredit
Central’s Europe timetable to adopt the euro slipping should have little impact on the region’s financial markets, Willi Hemetsberger, head of global markets for UniCredit, told Reuters on Tuesday.
Speaking at the Reuters Central European Investment Summit, Hemetsberger said later adoption of the single currency in the region was not a big issue given its integration into the European Union and its structures. “They (candidates in central Europe) all have credible central banks now, they are all well-anchored in democratic politics, they have, for the most part, sensible finances,” Hemetsberger told Reuters.
“So this is not something that is on the mind of the market anymore.” Poland, the Czech Republic, Slovakia and Hungary joined the EU in May 2004, and immediately set their sights on quick entry to the euro zone, which they see as beneficial for increasing trade as they integrate their economies with the richer west. But the initial euphoria has given way to the realities of trying to tighten budgets, controlling inflation, and stabilizing currencies and interest rates while allowing their economies to converge with older EU members. (The full text of the story)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.