Vol surge expected from east Europe

While this spells good news for investors and banks seeking volatile markets to trade outside the relatively static G7 markets, it poses serious risks for the EU enlargement project going forward.

Since the European Council concluded negotiations with the 12 accession countries in December, many of the convergence issues have already been priced into the market, analysts said. "Although December was successful, the process is not finished and there will be more volatility," said Lena Komileva