Exporters from Central and Eastern Europe were in a better position to take advantage of the recovery in global demand, due in part to their tighter integration in euro-area affiliated cross-border  BIS central bankers’ speeches  3  production chains.
As it is, interest costs are reducing the real money available for government to spend – reducing the real value of budgets. And these costs have also doubled in the past five years, to nearly 5% of GDP. Furthermore, a higher risk premium has spread through the rest of the economy, disincentivising investment by raising the cost of capital.