Development Bank Says the Euro Crisis is Spreading East

“Eastern European economies will expand at half last year’s pace in 2012 as fallout from the euro-area debt crisis spreads, the European Bank for Reconstruction and Development said.

The 29 east European and central Asian countries where the EBRD invests will grow 2.7 percent in 2012, down from 5 percent last year, the London-based bank forecast today in an e-mailed report, cutting a May projection for 3.2 percent growth. Egypt, Morocco, Jordan and Tunisia, where the bank is expanding, will grow 2.1 percent, 0.1 percentage point less than seen before.”

Full article