The deepening euro zone crisis is threatening the integration of Eastern European nations into the single currency area, the Chief Economist at the European Bank for Reconstruction and Development (EBRD) told CNBC’s “Worldwide Exchange”.
IKEA is going into the business of selling walls, floors and roofs, in addition to furniture, housewares and rugs. The international home-goods retail monolith recently announced plans to build an entire neighborhood in Stratford, East London.
Hungary's decision to help its citizens pay back the foreign exchange loans they took at the height of the economic boom a few years back has sparked outrage among banks and spooked foreign investors.
Hungary's government is taking steps to pull the country out of the difficult economic conditions it still faces but needs to ensure predictability, Eleni Tsakopoulos Kounalakis, US Ambassador to Hungary, told CNBC.com.
Since it was elected last year, Hungary's government has aggressively aimed to cut the country's debt burden, through raising taxes and nationalizing private pension assets, amongst other measures.
I've been to three European countries in three days and have not seen one newspaper headline on Greece, or the debt crisis. In fact, the topic when raised elicits yawns.
Fear of another downturn in the world economy lurks behind the smiles and relaxed atmosphere; the Czech Republic is heavily reliant on exports to the euro zone, especially Germany, for its economic growth.
Martin Tlapa, Deputy Minister, Ministry of Industry and Trade of the Czech Republic told CNBC.com in an interview in Prague that the "safe haven" label looks rather scary for a small, open economy that needs a stable exchange rate to function properly.
Some analysts have dubbed Central and Eastern Europe a safe haven – due to relatively low risk, because the countries have reformed, and relatively high yields, as they are still seen as emerging markets – but the risks are increasing.
"I think Poland is still quite an exciting market. First of all, because there is a very strong local investor base, and the pension and investment funds represent over $100 billion in assets," Greg Konieczny, investment manager at Franklin Templeton, told CNBC.
"We have a coming [European] crisis, or a slowdown of the economy. But this is manufacturing. Things are always going up and down," Andrzej Korpak, general manager of General Motors Manufactuing, told CNBC.