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Merry Crisis and a Happy New Fear

  • 2011-12-22
  • By Karina Oborune
“Merry Crisis and a Happy New Fear!” is the headline circulating on Facebook as we face the current eurocrisis and potential second wave of global financial crisis. But this headline could also describe the recent panic around Swedbank, soon after Latvijas Krajbanka was declared bankrupt. The rumors about the instability of Swedbank caused panic among residents of Latvia and resulted in long lines in front of Swedbank ATMs, with the withdrawal of more than 36 million lats in cash.A few days before these events of Sunday, December 11, Prime Minister Valdis Dombrovskis cri...
 
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