Uhm... the domino effect across the periphery Roubini envisions. The Eurozone is not a domino in this, "just" something affected. What do you mean 'not having an impact'? There is always an impact, the question is its size and nature. (Note that trade with the new members is quite significant since 2005, expecially for Germany.) For our purposes, the question is: how much higher an emergency credit liquidity package can the ECB assemble than the €5 billion put together for Hungary only? And how could the need to put together a say €150 billion package affect its other activities?

(My take is that even Hungary is/was not in danger of exhausting this cushion, much less the rest of the new members, but that may not be your take or from where you approach this question.)

_{*Lunatic*, n.
One whose delusions are out of fashion.}