Forcing Gravitas

  • 2008-11-12
  • By Vita Terauda
The gravity of the global financial meltdown and accompanying forecasts of recession in the near term finally seems be hitting home in Latvia. Early attempts at reducing the 2009 budget were sadly comical, but recent government decisions 's to bow to the reality of negative growth for next year and to step in to provide a lifeline to the first failing bank 's are evidence that financial gravity may force a much needed gravitas upon the political establishment. The budget process itself has been instructive of how government currently thinks, and of what its operational capabilities are....
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