Eastern Europe credit investors turn their backs on the Balkans and head for CIS, Poland and Czech Rep

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Steering clear of the bumps: contagion from Greece crisis is seeping up into eastern Europe

As the sovereign debt crisis in the Eurozone rumbles on, the effects are beginning to be felt further east.

The worsening economic situation in the EU – eastern Europe’s principal source of trade – looks set to hit demand for exports, and increased risk aversion could make it difficult for many economies in the region to secure the external investment on which they have traditionally been dependent.

The region’s reliance on external cash inflows meant it was vulnerable when the financial crisis h

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