Prepare for a ride
Sep 09, 1999
Diana Kudayarova
What can be more similar than the Baltic financial systems? All three countries established their central banks, thus developing a two-tier banking system, at about the same time. All three experienced similar problems with cash liquidity when breaking off the Russian ruble and introducing their own currencies.All three had banking crises at the same time: a bigger one in the early 1990s, caused by the aforementioned liquidity crisis, and a smaller one a year ago, caused by the Russian financia ...
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