Swedish Meteorite hits Latvia: a cynical hoax
On Monday, telecoms operator Tele2 confirmed its role in carrying out the stunt, which Latvian Interior Minister Linda Murniece called "cynical mockery", according to the AFP news agency.
Hotel and Business Directory covering companies in Europe and USA. The directory provides free business information on a variety of hand-picked businesses featuring: hotels, motels, car rentals, travel, transport, real estate, vacations, golf, b to b and other companies.
So let's pick up where we left off, thus far we have examined the factors that significantly eroded the competitiveness of Latvia such as unwarranted wage increases and low productivity. We have established that Latvian policy makers under the firm hand and watchful eyes of the IMF, the European Commission and other powers have opted for the high road of domestic discipline and restrained spending while uprooting and eradicating problems that have disharmonized the economy. By choosing to crack down on the problems of the economy and reinforce the foundations for sustained competitiveness, the programme aims to avoid the ephemeral success of floating the Latvian lat, while sweeping the real problems under the rug. Experts agree that for the first time, the young country's government seems to be doing what is actually needed, but is it too little too late? Is there a chance that the crisis will continue to escalate until it boils over and the government buckles to the devaluation sermons of the Scandinavian press?
Read further here.
Unemployment, defaults, foreclosure and bankruptcy have become the bywords of our time. The domino effect that hit the rest of Europe in 2008 was but a glancing blow to some countries such as Norway. The country domestically contained the crisis largely, by virtue of being outside the EU and continued full sail in true Norse fashion. Currency Expert Chuck Butler* comments that the Norwegian krone is HSBC's preferred G10 currency where the bank expects a sustained appreciation over the next 18 months. Whereas the crisis wasn't as kind to Latvia, Lithuania and Estonia, countries that were much more vulnerable, colliding with the recession maelstrom head-on. Indeed, the Baltic countries were caught off-balance in their 3rd stage of transition to the Economic Monetary Union of Europe. After a decade of unprecedented growth without foundations and safety measures, the inexorable economic law kicked in and the Baltic house of cards built on the shifting marsh of inexperience imploded with a bang. Today, the dust is beginning to settle and it is time to look to the future.
Read further here.