Latvia: Success at a Price

RIGA: On this 10thanniversary of the U.S. triggered global crisis, spare a thought for lightly populated Latvia, the Baltic nation in Europe’s far northeast. Over-confident from a get rich quick, multi-year property boom, the global crisis struck Latvia with unanticipated force. Citizens and government were ill prepared for the disaster. Economic activity slowed at once. Swedish banks that dominated local credit markets closed the lending … Continue reading Latvia: Success at a Price