Despite the fact that the effects of the global financial crisis took longer to filter through to the Central and Eastern European (CEE) economic region than Western economies, the area was nevertheless badly affected. Some countries, including Poland, the Czech Republic and Slovakia, have proved more resilient and have weathered the crisis better than their neighbours such as Romania and Ukraine. However, it is fair to say that while the region as a whole has been fairly depressed, there are now some nascent signs of recovery. Deal flow has been low and according to local lawyers, a key challenge is that very few small and medium-sized companies are currently willing to list on the stock exchange. However, the recession brought with it a substantial amount of counter-cyclical work, with restructurings and insolvencies providing most of the bread-and-butter work for mid-level local firms.
November 28, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
The financial crisis took a heavy toll on Central and Eastern European economies. But local experts are confident that a recent spate of M&A activity could revive once-flagging deal flow, reports Helen Mooney
Despite the fact that the effects of the global financial crisis took longer to filter through to the Central and Eastern European (CEE) economic region than Western economies, the area was nevertheless badly affected.
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