The head of the Central and Eastern Europe States department in the International Monetary Fund, Marek Belka, declared on Tuesday that there is no risk of payment default in this area. "This is something that happens last. I don't see the danger of even the fiscally embattled (countries) not being able to make their repayments", said Belka, according to Reuters.

The national currencies in Eastern Europe have tumbled against the Euro, since the beginning of the year, the greatest fear being that the financial crisis of the early 90's may return.

Belka's point of view is shared by Anders Aslund, chief economist for Eastern Europe, Ukraine and Russia, with the Peterson Institute.

Belka, who was the Prime Minister of Poland in 2004-2005, considers that the European Union should spend more in order to support its members states, both within and outside the Euro currency zone.