Capital flight fears prompt EBRD to push for Vienna II
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Capital flight fears prompt EBRD to push for Vienna II

Emerging Europe needs a second Vienna Initiative to prevent a new credit crunch from ravaging its economies and banking systems, according to the European Bank for Reconstruction and Development (EBRD). The supranational is working with fellow development lenders and authorities in both western and emerging Europe to co-ordinate their response to contagion from the eurozone crisis.

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