Banks ask for crisis funds for E Europe

Article reports that nine international banks operating in central and eastern Europe have clubbed together to lobby the European Union and the European Central Bank to extend their anti-crisis policies to non-EU Member States such as Bosnia, serbia and Ukraine to ease the credit crunch in the region.

Subsequently, the ECB made clear that it would be reluctant to extend emergency financial help to crisis-hit countries beyond the 16-country eurozone. However, the European Commission, the European Investment Bank (EIB) and the European Bank for reconstructon and Development (EBRD) responded more positively.