It has been a bad start to the year for the markets of eastern and central Europe.
After a dire 2008, the new year has brought little relief for these emerging economies as their equity and currency markets have been the laggards, underperforming developing markets in other parts of the world.
With every kind of economic data deteriorating across the globe in what has been described as the most synchronised recession since the 1930s, no market is safe from the general malaise.
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