International banking groups with subsidiaries in Central and Eastern Europe (CEE) which have been hit by the financial crisis may spark a sharper-than-expected deleveraging process in CEE in 2009-2010, according to a new CEE Direct Investment Update report released by property services firm DTZ. Additionally, West European governments putting pressure on bailed-out banks to benefit their home market will help deal a further blow to one of the key pillars of emerging Europe's stellar growth rates over recent years folllowing rapid credit growth across all sectors of the economy.
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