Impact of american crisis at Slovakia

Impact of american crisis at Slovakia

As Financial Times informed last week, the impact of american crisis at Slovakia was very limited. This is given by several reasons. 1. Slovakia is small country with not strongly developed Stock exchange, however it is strongly developing "economic tiger" at Central Europe.
2. Mortgages at Slovakia can be achieved by limited middle and high class of citizens which are still developing.
3. Bank sector is very conservative. Even of the fact, that all key banks are owned by foreign companies, loan to value ratio is 70 % (in Poland 100 %).
4. Slovak banks have surpluses of liquidity, loan to deposit ratio is 70 % which de facto means that Slovak banks do not need to acquire funds at international markets.

Even of all these advantages, the fact still is, that stock exchange in Bratislava is not working, so all these advantages can be taken only through debentures.