Wanted: a better EU policy on Latvia

 

My editorial in Aftonbladet deals with the crisis in Latvia and ECOFIN discussions about this subject today.

A Fistful of Euros has described the situation excellently. The dogmatic refusal to devaluate the Latvian currency is worsening the situation. IMF seems to be getting cold feet.

The conditions imposed by the EU and the IMF are causing a dramatic drop in domestic consumption. In the editorial, we urge the Swedish government to listen more to trade unions and independent experts in Latvia, not only to Swedish banks and to the Latvian Ministry of Finance.

My earlier posts on Latvia are here, here, here, here, and here.

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