NY Times On Europe’s Subprime

Very simply, Eastern Europe has become Europe’s version of the subprime market.

Robert Brusca, FAO Economics

The disaster spotlight is now being pointed at east and central Europe.

Gernot Mittendorfer, CEO Ceska Sporitelna, a large Czech bank owned by Austrian banking conglomerate the Erste Group

Yesterday, The New York Times ran a couple of articles on the front page and front page of its Business Section on the crisis in Eastern Europe  – click on the links above.  I wrote about it last Tuesday and went into more detail in this past week’s Client Note: Europe’s Subprime (e-mail me for a copy).

This appears to be the next big crisis.  Could it lead to another leg down for global equity markets????  That’s the question I’m trying to answer……

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