Erste Bank said the worst of the crisis may now be over for banks in emerging Europe, after it beat third-quarter earnings forecasts and launched a 1.65 billion euro ($2.4 billion) cash call.

East Germans are nostalgic for the "good life" they had under communism despite a propaganda campaign to discredit the German Democratic Republic (GDR), the widow of ex-GDR leader Erich Honecker says in a new video.

CNBC’s Martin Baccardax speaks to the Estonian Prime Minister Andrus Ansip, the Lithuanian Prime Minister Andrius Kubilius and the Latvian Prime Minister Valdis Dombrovskis about the outlook for the Baltic region.

Ready to give your soul for a loan in these difficult economic times? In Latvia, where the crisis has raged more than in the rest of the European Union, you can.

Signs the world recession may be easing have investors snapping up emerging market assets — provided, that is, the assets are not from Eastern Europe.

Latvia's prime minister hailed planned austerity steps on Friday as preventing state bankruptcy and unlocking more EU and IMF funds, but the prospect of salary and pension cuts caused anger and a protest promise from unions.

Latvia's government on Tuesday backed a new austerity package of tax rises and spending cuts which it hopes will win it more aid from the IMF and EU after days of financial market speculation it might have to devalue.

Polish and Swedish officials appealed for swift action to help beleaguered Latvia on Friday to prevent its economic crisis from spilling over into other countries in Europe.

Russian President Dmitry Medvedev said Friday that an increase in state ownership was inevitable in some sectors of the economy hurt by the global downturn, but promised it would be short-lived.