Comments on: Is the Latvia intervention team assembling?

By: The EU Commission Rift On Latvia Seems To Be Deepening | afoe | A Fistful of Euros | European Opinion

Mon, 13 Jul 2009 12:14:07 +0000

[...] was being taken on the Latvian question than that which is being transmitted from Brussels. Then P O’Neill found a message on Twitter which suggested the topic of the Latvian budget had been unexpectedly added to the EcoFin [...]

By: Wanted: a better EU policy on Latvia « Mats Engström

Wanted: a better EU policy on Latvia « Mats Engström — Tue, 07 Jul 2009 18:52:24 +0000

[...] Fistful of Euros has described the situation excellently. The dogmatic refusal to devaluate the Latvian currency is worsening the [...]

By: Filippo

Filippo — Fri, 03 Jul 2009 11:25:05 +0000

Why dose the EDP apply to Latvia, if it is not in the Euro?

By: Pohl

Pohl — Fri, 03 Jul 2009 07:08:23 +0000

Dear bloggers, why one should misinterpret some obvious things? Latvia is under the EU’s Excessive Deficit Procedure (EDP) and the July ECOFIN will discuss how and until when Latvia ahs to correct its deficit to below 3% of GDP. Hope that helps not to over exaggerate the facts.

By: DD

DD — Thu, 02 Jul 2009 21:20:12 +0000

I am curious to see whether the Swedes continue to act in their own narrow interest – That is they feel that maintaining the Baltics currency pegs is better for their banks even if it means a more U or L shaped recovery for the Baltics (I have argued that this assumption is incorrect with bank staff to no avail, but that they believe it to be true remains the situation on the ground). Or will they continue to act as they have so far – pursuing a policy domestically which is exactly the opposite of the policy that they recommend to their neighbors in the Baltic States?

By: govs from Latvia

govs from Latvia — Thu, 02 Jul 2009 13:42:46 +0000

Don’t hold your breath waiting for the next installment from EC as well – today it was announced to be postponed at least to the 2nd half of July.

However, the really interesting question now is Estonia – the situation deteriorates there rapidly. Having Germany-like addiction to exports combined with worsening public image and improved with more rational attitude towards devaluation, having the positive example of Swedish devaluation in front of them, and the worsening prospects of EUR introduction, will pose an extreme challenge to EC to defend the new economic orthodoxy.