Eastern Europe showing new vulnerability

[WannaJumpMyScooter]

Source: IHT

A warning from a major credit rating agency on Tuesday sent European stocks and the euro tumbling, serving as a stark reminder to investors that the financial situation in Central and Eastern Europe was deteriorating alarmingly and that the region faced a protracted slump.

Moody's Investors Service, in a report highlighting the dangers of West European ownership of East European banks, warned of "hard landings" for most countries in the region and negative rating pressure on banks operating there. Those with the highest vulnerability are the Baltic countries, Hungary, Croatia, Romania and Bulgaria, Moody's said.

Read more: http://www.iht.com/articles/2009/02/17/business/eastbank.php

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Gonna be a bumpy day on the Street tomorrow. hold on!