This rather sparse chart is of the benchmark BET index from Romania. It may not be obvious on first glance but the market is down 34% from its closing high last July 24. Romania is part of the EU but not the EMU. Today their central bank raised rates by 25 beeps, 50 was expected, to 9.75%. Inflation is pretty hot (in the eights), GDP growth is good, estimated in the fives this year but it has been on a down trend for the last couple of years and it is a deficit country. I'm not sure how keen they are about trying to join the EMU but the mix of stats says that is probably a ways off but interestingly the currency, the leu, is up about 4% against the greenback this year but the ride to 4% has been wild. I think ...