 Eastern Bloc countries were heavily borrowing from Club de Paris (central banks) and London Club (private banks) and most of them by early 1980s were forced to notify the creditors of their insolvency.This information was however kept secret from the citizens and propaganda ensured that the countries are on the best way to socialism.As a consequence of the Germans and World War II in Eastern Europe, much of the region had been subjected to enormous destruction of industry, infrastructure and loss of civilian life.