Regional International Monetary Fund (IMF) head Christoph Rosenberg to join Financial Times correspondent Thomas Escritt and some of the Central & Eastern European property sector's leading operators and business leaders for in-depth analysis and debate on the present and future implications of the global economic turbulence on the European and CEE property markets at CEE INSIGHT FORUM IV: TROPICAL STORM, which will take place on October 22, 2008 in the Corinthia Grand Hotel Royal Budapest.
When Edgar Rosenmayr, head of leading Vienna based investor Immoeast, digressed from his presentation on regional retail investment trends at last October's CEE Insight Forum in Bucharest to give warning of the imminent impact of the escalating US sub-prime crisis, the tremors were then barely being felt in Europe. One year later some CEE markets are feeling the chill but most appear to be bearing up with only a few shrapnel wounds and liquidity headaches, while the US and Western European markets are taking heavy casualties. But what happens next?
Is it a tropical storm that will soon pass leaving a manageable amount of residual damage, or a full blown hurricane that will lay waste to the European business and economic landscape for some time to come? Have we seen the worst or will there be deeper repercussions than we can estimate today? Are the twin pillars of lower leverage levels and fundamental economic catch-up providing the larger CEE country markets with some protection from the worst ravages of the storm, or is this only temporary? No one can yet be certain