Eastern Europe Uses Debt Crisis to Delay Euro Adoption

"The European Union’s largest eastern members are slowing euro preparations as western governments struggle to end a debt crisis that nearly ripped the currency apart in May. Without a fixed timetable, buying the bonds of these countries is no longer a one-way bet on falling yields, said investors including Jean-Dominique Butikofer, who helps oversee about $1 billion of emerging-market debt at Union Bancaire Privee in Zurich."