Phil spoke to a number of senior figures who were, or are close to the issues involved in seting up the Vienna Initiative. This was the collaboration betwen international institutions and banks to ensure that the 2009 global financial crisis did not spill over into central and eastern Europe. It tackled fears that EU-based banking groups would rush to reduce their debts by selling assets in emerging European countries.
He spoke with senior officials and bankers at the European Bank for Reconstruction and Development, the European Investment Bank, Raiffeisen Bank International, and the Vienna Institute for International Economic Studies. One issue was whether the tensions created out of the Russia/Ukraine situation could unnerve and banks and require a Vienna 3.0. The consensus was not, bgutone should watch this space. The story is here