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Latvia Collapses

elvis

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eagleseven

eagleseven

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Yeah. I'm trying not to think too hard about it.
 

editec

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Laila Dimrote, a spokeswoman for New Era, said: "This is not a big deal. Latvia has had many minority governments in the past, and often this is the case prior to elections."

Hard times are hard on governments.
 

beowolfe

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The People's Party quit after its action plan failed to get the backing of Valdis Dombrovskis, the Latvian prime minister, who labelled it "populist".

Seems like the prime minister has the same problem that some of our wingnuts have. Just because a plan does't match your ideology, doesn't mean it won't work.
 

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Charles Stucker

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Laila Dimrote, a spokeswoman for New Era, said: "This is not a big deal. Latvia has had many minority governments in the past, and often this is the case prior to elections."

Hard times are hard on governments.

Especially when they have socialist monkeys on their backs.
 

Contumacious

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It is the norm in multi party parlements like you see in most of Europe. For a while in the 70s it seemed as if Italy had a new government every week.

I don't know the ins and outs of Latvia, but the Letts should muddle through, no problem.


Greece is the main worry, followed by Spain.

Suprisingly, Poland is doing very well thank you, as is Turkey.
 

Avatar4321

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I know it's the norm in multi party systems. Im worried about the cascade effect it can have on other nations who are also in financial crisis. Particularly those in the area.
 
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Of those in the area, I think only Russia and Latvia are in trouble. Estonia, Poland, the Czeck republic, all are doing relativly well.
 

Hugidwyn

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In the USSR, Latvia's industrial production and the level of economic development was equal to Denmark.
After the collapse of the Soviet Union, Latvia lost the bulk of economic viability. Industrial production is now completely destroyed, the economy refocused on services.

Russia is protected from the crisis to a greater extent than the countries of Eastern Europe. losses that the economy may suffer because of the crisis will be offset by profits from energy. GDP growth slowed somewhat, but will still be higher than those of Eastern European countries.
 

editec

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In the USSR, Latvia's industrial production and the level of economic development was equal to Denmark.
After the collapse of the Soviet Union, Latvia lost the bulk of economic viability. Industrial production is now completely destroyed, the economy refocused on services.

Russia is protected from the crisis to a greater extent than the countries of Eastern Europe. losses that the economy may suffer because of the crisis will be offset by profits from energy. GDP growth slowed somewhat, but will still be higher than those of Eastern European countries.


I know nothing about Latvia's economy, but I do know that when a nation is basing its economy on services, it's in trouble.

That's why THIS nation is in trouble, folks. We migrated from a nation with about 4% of the GDP based on banking and finance to one with about 12% of GDP based on that service.

Its is, as we are now seeing, an unstable and I think and unsustainable economic base upon which to ground a national economy.
 

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