Remember Latvia?

Austerity - there's a word you don't hear everyday ... errrrrrr?

So can the approach taken by Latvia teach other countries, say, uhhh, Greece, a lesson about swallowing the pill and trimming down on government spending? Maybe. It may not be the answer in all cases, but it sure can't hurt ...

Jack and JR

Quotable

“Do not be too moral. You may cheat yourself out of much life. Aim above morality. Be not simply good; be good for something.” - Henry David Thoreau

FX Trading – Remember Latvia?

Latvia: they were a big deal about a year ago, and maybe even before that, when the lending practices among Eurozone banks, EU countries and CEE countries posed a huge risk to growth across the region. 

Latvia, as did the other Baltic States, watched its GDP crater. Those lenders exposed to such a dramatic decline in Latvian growth certainly felt similar pain. Here’s a snapshot of Latvian GDP, percent change year-over-year:

......read pages 2 - 4 HERE