With falling GDP and possible government regulation, Croatia’s banks must find new growth areas as well as preparing for the competitive shock of EU accession.

Austria’s leading banks have arranged a successful $200m syndicated loan for Romania’s largest bank, Banca Comerciala Romana (BCR).

Romania has come a long way since 1999, says Matei Paun. With hyperinflation just a memory, its banks are now the targets for big European players looking for dramatic growth.

Russia’s bond market got off to a magnificent start in January with Gazprom’s record-breaking issue and it looks set to continue in a similar vein. Ben Aris asks if anything can hold it back.

The rise of the rouble against the dollar and falling bond yields have encouraged some banks to issue Eurobonds for the first time. Ben Aris reports.

Moscow City continues to dominate Russia’s regional bond market. With its infrastructure in need of rebuilding, the issue pipeline is looking promising. Ben Aris reports.

The Kremlin has shifted emphasis away from encouraging growth, which is now strong, to tackling pressing social problems like pension reform. Ben Aris finds out that, although a good plan has got off to a bad start, there is hope for the future.
Marina is standing outside the Valentino shop in tears. She received her monthly Rbs400 pension ($15) yesterday but lost her avoska, the occasional shopping bag that all Russians used to carry, along with her purse.

Since its collapse in 1998, Russia’s domestic bond market has made a spectacular comeback. Rosbank chairman Alexander Popov talks to The Banker about its future.

Russia’s straddling of the investment grade and high-yield ratings is an illustration of the contradictions within the country. Ben Aris reports that its macroeconomic success story is not yet fully supported by the political foundations it requires.

Is Russia’s aim of doubling its economy by 2010 through special economic zones realistic? Ben Aris reports.