Some of the key emerging economies in Eastern Europe will find themselves at least partially shielded from the most dramatic impact of a global financial and banking crisis, which has wrecked havoc in Iceland, the United Kingdom, the United States and much of continental Western Europe.

Poland, for example, expects that despite the dire situation west of its borders, its own national economy will remain afloat and government ministers remain so confident that they see 2011 as a realistic date for the adoption of the euro.

Prominent economists in Poland argue that unlike in the West, the country’s economy and banking system does not require a massive bailout in order to remain stable.

Both Romania and Bulgaria also appear to be shielded from the worst of the Western financial crisis, mainly because there are relatively few foreign banks operating in these countries and as such, local or national financial institutions continue to dominate.

While the banking system remains secure in these countries, economic slowdown is a real possibility and there are fewer loans available to finance major construction projects.

Eastern Europe’s real winners so far seem to be Slovakia, the Czech Republic and Poland, all of which have managed to avoid the banking and credit turmoil of the West while also keeping annual economic growth at impressive levels.

This is especially the case in Slovakia, which for the past three years has been the region’s leader in growth and development.

As such, most economists predict that stability and growth during a time of global economic hardship will go a long way in attracting even more foreign investors to a fast emerging region.