Turkey, growing fast but building up debt, is the most exposed of 19 European countries outside the eurozone to disruptions to capital inflows, Standard and Poor's said Wednesday. S&P, one of the top three ratings agencies, said it had compiled a new index to measure the impact on emerging European economies of disruptions to capital inflows as the regional economy comes under even more pressure.
These countries, mostly in the east of the continent, have experienced a roller-coaster ride in recent years, with boom turning to bust for some, especially in the aftermath of the 2008-09 global financial crisis.