The financial crisis has done more than stall investment in Central and Eastern Europe. It has caused a remarkable sea change in the respective legal markets, where the international elite have their work cut out
The crystal balls of Romania’s gypsies would be a valuable tool for many a law firm partner operating in Central and Eastern Europe. Almost precisely to the day of Lehman Brothers’ collapse, the investment appeal of these emerging markets all but extinguished.The former Eastern Bloc countries, many with unstable governments, were suddenly deemed too much of a gamble in a new climate where ‘risk’ had become a dirty word.
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