In late 2008 Latvia found itself at the center of the global financial stage, as the collapse of its second-biggest bank - Parex - threatened to bring down the country’s banking sector, and take down with it, in domino effect, the rest of the civilized world’s financial system. An overbuilt real estate industry was deemed the main factor in the crisis. How times have changed. Latvia, along with Estonia and Lithuania, is recovering strongly on the back of strong exports. To see just how far into the beleaguered bricks and mortar industry the economic recovery has reached, The ...
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