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Latvia Is 'saved From Bankruptcy'

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http://news.bbc.co.uk/1/hi/business/8096817.stm

Latvia's prime minister says that he has saved the country from bankruptcy.

Valdis Dombrovskis told public radio that the decision late on Thursday to cut 500m lats ($1bn; £607m) from the budget was "very difficult".

But the cuts were needed for the country to receive the next installment of its European Union bail-out loans.

The country agreed a 7.5bn euro ($10.5bn; £6.4bn) loan package in December, but must cut the budget deficit to receive the loans.

"The signals we have been getting from the European Commission are positive," he said.

The five-party coalition government agreed to a series of measures with unions and employers.

The cuts will include reducing old age pensions by 10% and cutting public sector salaries by 20%, but they decided against increasing income taxes.

Parliament will vote on the changes next week.

Latvia's currency is pegged to the euro, but the recession has hit Latvia so badly that many analysts believe it will have to devalue the lat.

Latvia's central bank has been intervening to support the currency this week.

The Swedes will be relieved.

Now we've just got Estonia, Ukraine etc.... to worry about.

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The cuts will include reducing old age pensions by 10% and cutting public sector salaries by 20%, but they decided against increasing income taxes

Have you mentioned this to Gordon yet?

It's a bit like having a spell in a health spa isn't it? I can see what Mandy was getting at now........

Edited by Red Kharma

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Sorry Vald, but you dont get any points for saving your own country. Gordon has saved the known world and is nicknamed amongst his lickers as Gordon Brown, Chanchellor of all time and space.

Vlad, you must try harder.

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Guest DissipatedYouthIsValuable
Whilst under Gordon....

UK 'beats rest of industrial world in race to recovery'

http://news.scotsman.com/uk/UK--39beats-rest-of.5355016.jp

Christ, what a load of ******ing shit.

What's leading Britain's recovereh?

A load of junkie debt suicide lemmings still brainless enough to touch UK property?

Is this degree of propaganda doublethink just confined to this government, or are we going to continue to be fed the same shit by the next lot?

Edited by DissipatedYouthIsValuable

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Whilst under Gordon....

UK 'beats rest of industrial world in race to recovery'

http://news.scotsman.com/uk/UK--39beats-rest-of.5355016.jp

This person's posts are so barmy that I actually think he could be Gordon himself! And no, I don't want to claim my five whatever. At the very least he is some cabinet member or party hack (is one not the same thing as the other now anyway?).

:ph34r::ph34r::ph34r:

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A load of junkie debt suicide lemmings still brainless enough to touch UK property?

Or people who are just smarter and/or better off than you?

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Christ, what a load of ******ing shit.

What's leading Britain's recovereh?

A load of junkie debt suicide lemmings still brainless enough to touch UK property?

Is this degree of propaganda doublethink just confined to this government, or are we going to continue to be fed the same shit by the next lot?

Go and find a hoodie to hug to calm yourself down.

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Brown is crazy if he thinks he can pull the wool over our eyes for this. He is in part responsible for this and we won't forget it.

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Or people who are just smarter and/or better off than you?

Some people may be happy with a 25% drop from peak, others wish to wait and enjoy lower prices. Nothing to do with being smarter or better off as far as I can see. <_<

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