Even though The Economist warned about the unbalanced Baltic economies, starting from 2006, the ongoing economic crisis has neither calmed down complacent politicians in Latvia nor created comprehensive debate about a change of the structure of the economy in Estonia and Lithuania. The years 2004-2008 were basically wasted in Latvia as far as upgrading the structure of the economy and political system is concerned. Lithuania, and less so Estonia, on the other hand, did not come up with innovative strategies for new industries and governance models due to the peculiar setup of the governi...
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