tag:blogger.com,1999:blog-2873748063007712173.post2347169427923236314..comments2010-02-14T12:44:58.216+01:00Comments on Latvia Economy Watch: Another Round in Latvia?Unknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2873748063007712173.post-23400545891066714112009-06-19T16:18:34.985+02:002009-06-19T16:18:34.985+02:00I suppose RIGIBOR is so high because of upcoming l...I suppose RIGIBOR is so high because of upcoming long holidays - next working day in Latvia is Thursday 26th. Until then anything can happen.jhttps://www.blogger.com/profile/03630055918610659325noreply@blogger.comtag:blogger.com,1999:blog-2873748063007712173.post-49873847823091177802009-06-19T12:23:13.034+02:002009-06-19T12:23:13.034+02:00The things might not have calmed down so much. Tod...The things might not have calmed down so much. Today, one-week Rigibor is up to 32.60%, highest level so far. And there are unconfirmed rumours that Latvia might get the next tranche from EU but not from IMF.Latvian abroadhttps://www.blogger.com/profile/07206431082954964671noreply@blogger.comtag:blogger.com,1999:blog-2873748063007712173.post-6946276890024345122009-06-19T00:31:17.941+02:002009-06-19T00:31:17.941+02:00Edward,
as far as I know did Poland, Hungary, Roma...Edward,<br />as far as I know did Poland, Hungary, Romania and Bulgaria apply for IMF help, too. <br />Are the wage cuts in the course of meeting the preconditions (budget housekeeping) for IMF help in the other countries possible, too?<br />Thanks a lot<br /><br />JayAnonymoushttps://www.blogger.com/profile/01531839088940647424noreply@blogger.comtag:blogger.com,1999:blog-2873748063007712173.post-60021125477159057522009-06-18T10:26:10.786+02:002009-06-18T10:26:10.786+02:00One great trick is to pay civil servants the same ...One great trick is to pay civil servants the same rate, but only for 4 days work, or to force unpaid leave. This does not really help productivity - but gives the illusion of budget cuts. And of course, the massive state-owned enterprises have not done any cutting and can still use their monopoly positions to increase prices.Danielsnoreply@blogger.comtag:blogger.com,1999:blog-2873748063007712173.post-27381430562627431432009-06-17T17:37:52.710+02:002009-06-17T17:37:52.710+02:00"These wage cuts arent going well"
Not ..."These wage cuts arent going well"<br /><br />Not going well, not going well....<br /><br />That has to be the understatement of the year :)<br /><br />Unfortunately, this was all reasonably forseeable. It is like they are all reading out a script they have not had time to read out in advance - though the script was in fact written long ago - and are having to improvise on the fly.<br /><br />I think they had not got the faintest idea what they were talking about when they started to use the term "internal devaluation".<br /><br />Unfortunately, now the markets are likely to draw their own conclusions about the viability of this for countries like Spain and Greece.Edward Hughhttps://www.blogger.com/profile/10384039867580949531noreply@blogger.comtag:blogger.com,1999:blog-2873748063007712173.post-81650771744857988022009-06-17T15:30:19.022+02:002009-06-17T15:30:19.022+02:00These wage cuts arent going well - Health Minister...These wage cuts arent going well - Health Minister just resigned, unions will go on strike tomorrow, teachers are planning to strike on Sep 1 (first day of the school).jhttps://www.blogger.com/profile/03630055918610659325noreply@blogger.comtag:blogger.com,1999:blog-2873748063007712173.post-81782503235058708832009-06-17T15:26:08.891+02:002009-06-17T15:26:08.891+02:00I recently read (in Estonian media, most likely), ...I recently read (in Estonian media, most likely), that Latvia's central bank is squandering reserves by buying the lats to ensure the exchange rate. So that, the thing Russia's central bank was doing before the 1998 default.Miacekhttps://www.blogger.com/profile/06272409941034494173noreply@blogger.com