PWC: Bulgaria among CEE's Most Vulnerable to Debt CrisisFinance | September 18, 2012, Tuesday // 19:27| views
Central and Eastern Europe is threatened by the ongoing debt crisis in Europea, according PwC. Photo from records.com
Bulgaria is among the Central and Eastern European countries that are most vulnerable to the ongoing debt crisis, according to a report of international consultancy PricewaterhouseCoopers.
The report ranks Bulgaria as the fifth most vulnerable to the debt crisis from among the other CEE states, after Latvia, Slovenia, Belarus, and Hungary.
Serbia and Ukraine are also deemed highly vulnerable to the effects of the European debt crisis, according to PwC.
The Czech Republic is the only CEE state that is said to be fairly immune to the debt crisis shocks.
PwC says that while recessions and financial instability are mostly prevalent in Western Europe, Central and Eastern Europe is faced with two major threats – global financial panic and the fate of the euro whose future remains uncertain among the fiscal difficulties in Greece, Ireland, Portugal, Italy, and Spain.