calendar>>November 25. 2011 Juch 100 |
Debt Crisis Threatens No-Eurozone Countries: KCNA Commentary
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Pyongyang, November 25 (KCNA) -- There is increasing fear that the debt crisis sweeping the eurozone may spill over into several other countries in Eastern Europe. This is typified by months of drop of foreign exchange rates in those countries under the influence of an economic slump in eurozone countries. The foreign exchange rate in Hungary dropped to all time low last year with state loan interests mounting. This prompted the government to request for an emergency international financial aid. The same was the case in the Czech Republic and Poland. The gross production growth rate in the region stopped at 2 % in the third quarter as against the second quarter. This left Eastern European countries, which consider eurozone countries as major export markets, increasingly vulnerable, leading to the mass sale of currencies in those countries. |
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