Author Topic: Latvia - euro link under pressure  (Read 1079 times)

0 Members and 1 Guest are viewing this topic.

Online Figleaf

  • Administrator
  • Honorary Member
  • *****
  • Posts: 32 551
Latvia - euro link under pressure
« on: October 07, 2009, 11:40:34 PM »
I just heard that a Latvian sovereign rights (government bonds) issue of 11.5 million euro at six months has not attracted a single bid. Latvia has unilaterally linked its currency, the lat, to the euro. If there's no financing forthcoming (e.g. from Sweden) even for such a small amount, the euro-lat link may become untenable. Other Baltics and Sweden may be affected by a Latvian devaluation.

An unidentified coin is a piece of metal. An identified coin is a piece of history.