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Emerging EU Member Countries in the Storm (Spring 2009)

In: Hungary and Other Emerging EU Countries in the Financial Storm

Author

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  • Júlia Király

    (International Business School)

Abstract

In 2009 credit flows slowed down, international trade collapsed and most of the countries went through a deep recession. While countries around the world announced comprehensive rescue plans for their banking system, emerging Europe was left on its own devices. Soon, the whole region—irrespective of EU membership—was considered the most vulnerable part of the emerging market world. And, then a new international initiative of public–private cooperation was born, the first of this type: the Vienna Initiative. This chapter recounts how the collapse was avoided with the help of it.

Suggested Citation

  • Júlia Király, 2020. "Emerging EU Member Countries in the Storm (Spring 2009)," Financial and Monetary Policy Studies, in: Hungary and Other Emerging EU Countries in the Financial Storm, chapter 0, pages 67-77, Springer.
    • Handle: RePEc:spr:fimchp:978-3-030-49544-2_7
    DOI: 10.1007/978-3-030-49544-2_7
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