Bear with a sore head

EWA ANDRZEJEWSKAEditorThe Russian bear is growling once again. This time it was heard not only in Central & Eastern Europe, but also on the other side of the Atlantic. Should we here in the CEE region, its nearest neighbours who so recently regained our freedom, be afraid?Money, they say, has no homeland, but Russia’s recent behaviour has aroused 
a great deal of anxiety among foreign investors, who now wonder whether the time has come to pull their capital out of this market. The entrepreneurs who have entered the still fairly young Ukrainian real estate market are also closely following  each declaration made by Russia’s powers that be, pondering over whether this is just harmless sabre rattling or if it constitutes a real danger. One of our journalists met a representative of the Association of Russian Constructors several days before the events in Georgia erupted. He encouraged investment to come to a country which is overflowing with roubles, as he put it, a