Lithuania urged to maintain direction
- From wire reports
VILNIUS - Lithuania’s new government emerging from last weekend’s elections will have to keep cutting the budget deficit or risk higher interest rates, said Lars Christensen, chief emerging-markets economist at Danske Bank, reports Bloomberg.Lithuanians went to the polls on Oct. 28 to vote in a second round of elections that have likely ousted Prime Minister Andrius Kubilius, bringing opposition parties to power. Kubilius’ Cabinet cut wages and raised taxes in 2009 and 2010 as output plunged by almost a quarter, worsening the Baltic nation’s deepest recession i...
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