Legal Business

Euro elite: focus Central and Eastern Europe – The tiger by the tail

Price wars, political and economic tensions and prolonged attention from large Anglo-Saxon players in the region have made the going challenging for independent firms in CEE.

With a few notable exceptions, the last five years have seen some international law firms retreat from Central and Eastern Europe (CEE) – in part a belated reaction to the financial crisis – while others have downsized due to profitability problems. But for independent law firms, good opportunities remain in the region as local markets recover. On aggregate, the CEE economies grew by 3.6% last year and are projected to increase by 3.1% this year, according to the International Monetary Fund.