Balkan Economic Recovery Is at Risk From Greek Woes, Mirow Says

The Balkans remains at risk from Greece’s sovereign debt crisis as the region’s recovery is weaker than elsewhere in eastern Europe, said European Bank for Reconstruction and Development President Thomas Mirow.

Greece, which asked the European Union and the International Monetary Fund for financial aid last year, is seeing its borrowing costs surge on investors’ concern that it may need to restructure its debt. Those concerns may impact banks operating in the Balkans and the EBRD, along with the IMF, will work to prevent the contagion, Mirow said.