Austerity – there’s a word you don’t hear everyday … errrrrrr?
So can the approach taken by Latvia teach other countries, say, uhhh, Greece, a lesson about swallowing the pill and trimming down on government spending? Maybe. It may not be the answer in all cases, but it sure can’t hurt …
Jack and JR
“Do not be too moral. You may cheat yourself out of much life. Aim above morality. Be not simply good; be good for something.” – Henry David Thoreau
FX Trading – Remember Latvia?
Latvia: they were a big deal about a year ago, and maybe even before that, when the lending practices among Eurozone banks, EU countries and CEE countries posed a huge risk to growth across the region.
Latvia, as did the other Baltic States, watched its GDP crater. Those lenders exposed to such a dramatic decline in Latvian growth certainly felt similar pain. Here’s a snapshot of Latvian GDP, percent change year-over-year:
……read pages 2 – 4 HERE