PDA

View Full Version : Latvia government collapses amid economic crisis




LibertyWorker
03-19-2010, 11:01 PM
One by one they begin to fail,

I'll wager the government didn't stop spending until the wheels fell off the wagon.:eek:

Link to story (http://www.telegraph.co.uk/news/worldnews/europe/latvia/7466920/Latvia-government-collapses-amid-economic-crisis.html)

BuddyRey
03-20-2010, 12:21 AM
Do we have any Latvians here at RPF's willing to give us a little firsthand perspective on what's going on over there?

Has any countereconomic activity started yet, or is a provisional government already quelling it?

lx43
03-20-2010, 12:49 AM
If their smart they will take an axe to govt spending.

phill4paul
03-20-2010, 05:10 AM
Whatever will Dr. Doom do?

sevin
03-20-2010, 07:52 AM
Why didn't they just spend more money and grow their way out of the crisis? :rolleyes:

LibertyWorker
03-20-2010, 08:32 AM
my first questions would be, did they have a central bank? who are their creditors?

And the most important question of all. Was anybody from Goldman Sachs hanging around?

slothman
03-20-2010, 10:01 AM
The gov't didn't collapse; there is no anarchy.
Only one of the parties, of which there are many, left.
The others can still run the gov't.

Erazmus
03-20-2010, 10:18 AM
Why didn't they just spend more money and grow their way out of the crisis? :rolleyes:

Keynes to the rescue!!! :D

Vessol
03-20-2010, 01:21 PM
Just have to come out and say this. In the headlines when it says that a government has collapsed in Europe or any parlimentary democracies, it means that the major coalition broke down and a party left it meaning that they have to hold new elections most likely and make new alliances. It doesn't mean that the entire government collapsed and there is now anarchy on the streets. However Latvia and the rest of Eastern Europe are facing hard times, which is nothing they are not used to but tis sad as they were just getting back up there after being freed from the USSR.

low preference guy
03-20-2010, 01:23 PM
The proposals of the party who left were great: Lowering taxes and abolishing some departments. But those wise measure were described as "populist", so they left the government. I applaud them.