Thursday, February 26, 2009

Economic Crisis: Despatches from the Front

As the Latvian economy falters, unrest begins to grow. "Is morale high here?" I asked an adult class, concept checking a new bit of vocabulary. They looked at me and laughed. "Could Godmanis potentially be the next prime minister?" I tried with another one. "Why not?" they shrugged. "He's the same as all the rest."

"It's clear that sharp falls in living standards are inevitable this year," thinks Peteris Strautins, chief economist for Swedbank, the biggest bank in the Baltics. "I just hope that people accept it."

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