The Latvian Prime Minister suggested Latvians stick together like penguins to support the weaker among us. Therefore, Latvians should form groups of people with mortgages and as groups negotiate with banks. eg. a Nordea group of 1,000 mortgagees could request an interest only period without having to suffer a new contract with increased base interest rates. We all know that approaching the banks individually risks un-even bargaining power in favor of the banks.
The banks have long ago securistized your loans, hedged your loans, budgeted for acceptable losses, used losses as a tax deduction, received years of interest payments from you, and have the property to return all the outstanding credit. So when they tell you that there is increased costs in a loan restructure that you have to pay for 's they are not being truthful.
So start blogs via google for each bank group and get together like penguins. Better to be a penguin than a DoDo bird.
Australian Chamber of Commerce in Latvia