Comments on: Are The IMF and The ECB Lining Up Against The EU Commission Over Latvia? http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/ European Opinion Mon, 13 Feb 2012 07:39:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: The EU Commission Rift On Latvia Seems To Be Deepening | afoe | A Fistful of Euros | European Opinion http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25937 The EU Commission Rift On Latvia Seems To Be Deepening | afoe | A Fistful of Euros | European Opinion Mon, 13 Jul 2009 12:09:21 +0000 http://fistfulofeuros.net/?p=5855#comment-25937 [...] weeks ago I drew attention to a revealing press conference given by IMF First Deputy Managing Director John Li... where it seemed a rather different posture was being taken on the Latvian question than that which [...] [...] weeks ago I drew attention to a revealing press conference given by IMF First Deputy Managing Director John Li… where it seemed a rather different posture was being taken on the Latvian question than that which [...]

]]> By: Wanted: a better EU policy on Latvia « Mats Engström http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25855 Wanted: a better EU policy on Latvia « Mats Engström Tue, 07 Jul 2009 18:48:27 +0000 http://fistfulofeuros.net/?p=5855#comment-25855 [...] A Fistful of Euros has described the situation excellently. The dogmatic refusal to devaluate the Latvian currency is worsening the situation. IMF seems to be getting cold feet. [...] [...] A Fistful of Euros has described the situation excellently. The dogmatic refusal to devaluate the Latvian currency is worsening the situation. IMF seems to be getting cold feet. [...]

]]> By: Is the Latvia intervention team assembling? | afoe | A Fistful of Euros | European Opinion http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25800 Is the Latvia intervention team assembling? | afoe | A Fistful of Euros | European Opinion Thu, 02 Jul 2009 13:13:06 +0000 http://fistfulofeuros.net/?p=5855#comment-25800 [...] did not appear on the original draft agenda, so what’s the urgency?  Well, Edward had the relevant background a few days ago.  The IMF and the European Commission appear to be not on the same wavelength [...] [...] did not appear on the original draft agenda, so what’s the urgency?  Well, Edward had the relevant background a few days ago.  The IMF and the European Commission appear to be not on the same wavelength [...]

]]> By: Jörg Wenck http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25780 Jörg Wenck Tue, 30 Jun 2009 14:31:32 +0000 http://fistfulofeuros.net/?p=5855#comment-25780 "It is important to shield the rules related to the distribution of profits from third-party interests and to ensure a legal framework that provides a stable and long-term basis for the central bank’s functioning.” Does the ECB consider the Latvian government to be a "third party"? “It is important to shield the rules related to the distribution of profits from third-party interests and to ensure a legal framework that provides a stable and long-term basis for the central bank’s functioning.”

Does the ECB consider the Latvian government to be a “third party”?

]]> By: Global Voices Online » Latvia: IMF, ECB and the EU Commission at odds http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25771 Global Voices Online » Latvia: IMF, ECB and the EU Commission at odds Tue, 30 Jun 2009 08:04:10 +0000 http://fistfulofeuros.net/?p=5855#comment-25771 [...] Fistful Of Euros describes how the International Monetary Fund and the European Central Bank may be taking another line on the [...] [...] Fistful Of Euros describes how the International Monetary Fund and the European Central Bank may be taking another line on the [...]

]]> By: Michael http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25765 Michael Tue, 30 Jun 2009 01:03:24 +0000 http://fistfulofeuros.net/?p=5855#comment-25765 Nice article. Let the ECB handle it. They know how to do it. Michael http://invetrics.com Nice article. Let the ECB handle it. They know how to do it.

Michael
http://invetrics.com

]]> By: Jānis Bērziņš http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25761 Jānis Bērziņš Mon, 29 Jun 2009 22:29:44 +0000 http://fistfulofeuros.net/?p=5855#comment-25761 Good article. However, this discussion about devaluation is making me sick. None of you has studied the Latvian economy deeply enough to conclude anything. You're just repeating orthodox neoclassical common sense, without going deep. At this very moment, devaluation would be a disaster. In economic terms and, much more important, in social terms, a catastrophe. Good article. However, this discussion about devaluation is making me sick. None of you has studied the Latvian economy deeply enough to conclude anything. You’re just repeating orthodox neoclassical common sense, without going deep. At this very moment, devaluation would be a disaster. In economic terms and, much more important, in social terms, a catastrophe.

]]> By: govs from Latvia http://fistfulofeuros.net/afoe/are-the-imf-and-the-ecb-lining-up-against-the-eu-commission-over-latvia/comment-page-1/#comment-25758 govs from Latvia Mon, 29 Jun 2009 17:36:32 +0000 http://fistfulofeuros.net/?p=5855#comment-25758 Q2 of 2010 is the last time for the big growth to start, in order to rescue Rimsevics. Because in Q3 2010 there are parliamentary elections in Latvia. If continuing the trend set by actual local and European elections - majority was won by left parties - the basis of Rimsevics and Bank of Latvia will be destroyed on the first meeting of the newly elected Latvian parliament. Even as Rimsevics can not be dismissed by the parliament, it is enough a 50% vote to move the currency board function from Bank of Latvia to somewhere else. Evidence of easy changing the Law of Bank of Latvia is the redistribution of the profits – now 50% in favour of the Government. And this vague independence of Bank of Latvia is the real concern of ECB, not the 50% vs 15%. The ECB is thinking in very distant – 2011 – categories. Q2 of 2010 is the last time for the big growth to start, in order to rescue Rimsevics. Because in Q3 2010 there are parliamentary elections in Latvia. If continuing the trend set by actual local and European elections – majority was won by left parties – the basis of Rimsevics and Bank of Latvia will be destroyed on the first meeting of the newly elected Latvian parliament.

Even as Rimsevics can not be dismissed by the parliament, it is enough a 50% vote to move the currency board function from Bank of Latvia to somewhere else. Evidence of easy changing the Law of Bank of Latvia is the redistribution of the profits – now 50% in favour of the Government.

And this vague independence of Bank of Latvia is the real concern of ECB, not the 50% vs 15%. The ECB is thinking in very distant – 2011 – categories.

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