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"NEW YORK (MarketWatch) — Growth is hard to find in Europe these days, so it came as little surprise when Banco Santander, based in recession-wracked Spain, struck a deal this year to expand its presence in economically resilient Poland.

Unlike the euro zone, which is mired in a debt crisis that has exacerbated the economic downturn, Poland, Turkey and a small group of other countries outside the currency bloc are thriving. Thanks to relatively low debt levels, an expanding middle class with rising disposable incomes and other factors, these economies are on track for further growth as companies and investors look to exploit new markets in the region. "

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