[#]
Nov. 29., 2009 | 08:41 pm
No:: brookings
Silvija from Sviesta Ciba!!
But about those leaving, many of them (those who took a mortgage/started a family etc - me for example) really have little choice - they'll be buried in debt and negative equity otherwise. As for staying and 'fighting', it's too unclear who to fight with/what to fight against. I would, of course, question the money going to the financial sector - Parex and the drošibas spilvens labām bankām, on condition of all these cuts/rising taxes, cutting pensions etc.
Maybe old hat for the fashionably stoic crowd, but really, I would recommend people reading the home page of the IMF - it's no conspiracy - it is in black and white - its aim is to ensure stability of the financial monetary system. The 'sound policies' it insists on encouraging investor confidence. These conditions being brow-beaten labour, deregulation, and minimal public spending.
The trouble is, we overestimate the importance of the local cronies - sure they criminally overspent on themselves and their cronies and Latvians let them get away with it (caught up in their/our own low-level saveju corruption). This story is far far bigger than a local Latvian problem: it is about contagion, be it the popping of bubbles as creditors don't get their money, or currency devaluation in Eastern Europe and beyond. We should, I would say, stop whipping ourselves and wailing (as in 'it is all our fault - or my neighbours) - and forcefully demonstrate against the closing of hospitals, cutting pensions etc in the name of getting a loan to ensure there is no wobble in the financial monetary system.
nu labi - jau padaudz laikam
But about those leaving, many of them (those who took a mortgage/started a family etc - me for example) really have little choice - they'll be buried in debt and negative equity otherwise. As for staying and 'fighting', it's too unclear who to fight with/what to fight against. I would, of course, question the money going to the financial sector - Parex and the drošibas spilvens labām bankām, on condition of all these cuts/rising taxes, cutting pensions etc.
Maybe old hat for the fashionably stoic crowd, but really, I would recommend people reading the home page of the IMF - it's no conspiracy - it is in black and white - its aim is to ensure stability of the financial monetary system. The 'sound policies' it insists on encouraging investor confidence. These conditions being brow-beaten labour, deregulation, and minimal public spending.
The trouble is, we overestimate the importance of the local cronies - sure they criminally overspent on themselves and their cronies and Latvians let them get away with it (caught up in their/our own low-level saveju corruption). This story is far far bigger than a local Latvian problem: it is about contagion, be it the popping of bubbles as creditors don't get their money, or currency devaluation in Eastern Europe and beyond. We should, I would say, stop whipping ourselves and wailing (as in 'it is all our fault - or my neighbours) - and forcefully demonstrate against the closing of hospitals, cutting pensions etc in the name of getting a loan to ensure there is no wobble in the financial monetary system.
nu labi - jau padaudz laikam