Recently I've discovered an English-langugage site about the economies of Estonia, Latvia and Lithuania:
It is a fascinating read at the moment, terrible and gripping at the same time. Like watching a car crash or something like that. The imperfect translations of the articles add to surreal effect.
Much of East and Southeast Europe is hit hardly by this crisis. I'm from Croatia and we're having trouble with our currency peg. Nothing dramatic yet, but reading the baltic news I feel like I'm reading about my country six months from now. Chilling.
Anyway, does anyone here follow the events unfolding up there?
It seems that Latvia is going to keep the currency peg with help from IMF. This of course means a painful deflation for them. Estonia is undertaking a deflation of its own in a similar attempt to keep the peg, though it hasn't required IMF help yet.
Some analysts predict that these attempts aren't going to last and when they devaluate they're going to go down 50%. What do you think?
It is a fascinating read at the moment, terrible and gripping at the same time. Like watching a car crash or something like that. The imperfect translations of the articles add to surreal effect.
Much of East and Southeast Europe is hit hardly by this crisis. I'm from Croatia and we're having trouble with our currency peg. Nothing dramatic yet, but reading the baltic news I feel like I'm reading about my country six months from now. Chilling.
Anyway, does anyone here follow the events unfolding up there?
It seems that Latvia is going to keep the currency peg with help from IMF. This of course means a painful deflation for them. Estonia is undertaking a deflation of its own in a similar attempt to keep the peg, though it hasn't required IMF help yet.
Some analysts predict that these attempts aren't going to last and when they devaluate they're going to go down 50%. What do you think?
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