Will the US scupper growth in emerging Europe?

Stuart Richards discusses the effect of the US sub-prime mortgage crisis on the potentially strong emerging markets of Europe

The economies of emerging Europe have the potential to deliver strong growth over the coming years. Historically, however, when the US catches a cold, it is usually emerging markets that sneeze the hardest. So, will the sub-prime mortgage crisis and subsequent credit crunch that is widely expected to slow the US economy also knock emerging European economies off track? We think not. We are very optimistic on the region as a whole but, in particular, we believe Russia and Turkey can deliver strong economic growth into 2008 with drivers that should remain supportive even if the US does slow. ...