RIGA - The extent of Latvia’s economic crisis can be felt just by walking along any of the city’s shopping streets, or by taking a stroll through the shopping centers and malls. Empty store after empty store. Stores still open have signs emblazoned across their windows advertising up to 70 percent discounts. Restaurants remain open in the evenings, though nary a soul enjoys a meal. With GDP having dropped by 4.5 percent in 2008, and a further 18 percent in 2009, and little relief in sight, retailers are facing tough times. Eurostat reports that seasonally-adjusted unempl...
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