Tucked in alongside the Economist Magazine's Europe leader 'Supersarko leaves the podium' , lies an innocuous sounding piece titled 'Baltic Brink'. The focus is all on Latvia and its problems defending the Lat's link with the Euro...An IMF bail-out is currently taking place. It might be simpler, you might think to devalue the Lat. But here's the problem. 85% of loans to Latvian households are denominated in euros and other foreign currencies.
Posted on The Tap Blog
Saturday, 3 January 2009
Europe On The Brink
