Bracing for a buying binge: East European banks.(possible sale of various Eastern European banks)(Brief Article)

From: The Economist (US) | Date: August 15, 1998 | Copyright information

BUCHAREST

Eastern Europe's state-owned financial institutions are on the auction block

A DECADE ago, the communist states of Eastern Europe had no true commercial banks. Capitalism required the creation of domestic banking industries-and already capitalism is making those banks obsolete. The governments of Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovenia all have banks on the block, or soon will. Most, if not all, will be bought by foreigners. A ...

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