VILNIUS – The whole Baltic stock market might be affected after Lithuanian prosecutors launched an investigation on Tuesday into suspicions that Lithuanian paper producer Grigeo's subsidiary in Klaipeda released untreated wastewater into the Curonian Lagoon, Zygimantas Mauricas, chief economist at Luminor bank, believes.
He compared the situation with the recent money laundering scandal in Estonia when reputational damage was done to the whole Baltic banking sector. In his words, investors view the Baltic countries as a single region.
"In...
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