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Vilnius, Lithuania. The root cause of the region's troubles is the banking crisis in the west (Photo: European Commission)

World Bank calls for eastern Europe bail-out

The World Bank called for intervention in central and eastern Europe on Wednesday (18 February) as the region struggles to deal with the financial crisis and economic downturn.

World Bank president Robert Zoellick said the bank was attempting to help the region along with the International Monetary Fund but needed more backing from Brussels, he admitted in an interview with the Financial Times on Wednesday.

"It's got to have support from the European governments," he said. "It's 2...

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Vilnius, Lithuania. The root cause of the region's troubles is the banking crisis in the west (Photo: European Commission)

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