The Vienna initiative was a plan undertaken in January 2009 by European banks and governments during the height of the financial crisis to control the situation and work towards a joint solution specifically in developing regions of Europe. It has been created to avoid a bank crash that was threatening the region because of the subprime crisis as the liquidity in the CESEE countries depended on the Western ones. It is a forum where the representatives of the private and public economical sector from the Western countries but also Central, Eastern and South-Eastern European countries (CESEE) meet. This Initiative impacted much those countries and notably on Romania.
