Up to now, Latvia still does not have a consistent plan for promoting economic development. Rather, the logic of Latvia’s civil servants and politicians has been quite simple, not to say naive. It follows a very simple logic: 1) we will adopt the euro, as we’re doing everything for it now, 2) after adopting the euro, rating agencies will give us a better grade, 3) Latvia will experience an investment boom resulting in economically sustainable development, as a result of investors trusting in Latvia’s economy. A very simple model giving a very simple answer. As with all ...
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