I wrote a text with Marcin Piątkowski about unjustified fear of CEE meltdown, it was published on eurointelligence last night. However fear can lead to more fear and to a panic and we suggest that both national authorities, the EU leadership and the ECB should take appropriate steps to ensure that this perception does not translate into systemic meltdown.We hope that the upcoming 1 March EU summit will take necessary decisions.

Comments welcome.