“Latvia serves as an example of a country that has managed to get out of a highly problematic situation. Those countries that put off austerity measures do not do the rigth thing. They must be carried out now and fast, because it is the only way to regain market confidence, followed by stability and growth,” says Alexander Stubb, Finnish European Affairs and Foreign Trade Minister.
“It is, of course, nice to live in a country that is seen as a model. It is exactly how many view Latvia and Finland today. We have different past, not quite the same systems, but similar problems. I would rather like to be Latvian than Greek,” he told the newspaper Latvijas Avize.
“Last year you were the fastest growing economy in the European Union. I think you have done a good and a responsible thing. You were at the edge of an abyss, just like Finland in the early 90s. Austerity measures were the only way out. I think that in this part of Europe, be it the Baltic or Nordic countries, people understand that you cannot live beyond your means,” Stubb says.
Asked whether new shocks could hit the European Union amid the Greek crisis, the politician points out that one can never know for sure what to expect.
“I would rather say that we have gone through three alarming years and now we are experiencing three relatively quiet months. But I do not think we should relax yet. We have adopted rules governing expenses, we have built a firewall around Greece and many European countries have carried out really tough austerity measures. Latvia is a great example of this. You implemented the most stringent austerity measures but still turned out to be the fastest growing economy last year. There are indeed many good news but it is still too early to celebrate,” he says.
Lithuania’s ambassador in Ukraine may be in hot water pledging military support to Ukraine when in fact Lithuania has not made any decisions in that regard, says the Lithuanian Prime Minister Algirdas Butkevičius.
Jobs are out there, but the vacancies cannot be filled up. That is the situation that Lithuanian employers grumble increasingly about. The reason? Shortage of skilled workers. And those who get hired often are irresponsible, urge big salary from the start, though without appropriate job experience. Lack of good, reliable workers is a major problem acutely plaguing Lithuanian employers, agrees Sigitas Besagirskas, head of the Economy and Finance Department at Lithuania’s Confederation of Industrialists.
The Lithuanian Parliament has appointed Deputy Culture Minister Agneta Lobačevskytė as the head of the Office of Equal Opportunities Ombudsperson.
Have you ever thought of having been born as a girl? Do you like flowers? Do you like poesy? The questions part of the military psychological test Lithuanian conscripts have to take before being ruled by the doctors if they are fit for the barracks.
A Saeima committee on Wednesday, June 17, agreed to demand an explanation from the National Electronic Media Council on the compliance to public interest of especially rude content of a hip-hop battle broadcast by the public youth-orientated radio Pieci.lv.
After initiating criminal proceedings, the Corruption Prevention and Combating Bureau has detained senior officials from the Financial and Economic Crimes' Prosecutors' Office and the Forensic Department of the State Police.
Serbian Prime Minister has noted he is «shocked» about Hungary's plans to build a fence in the length of the border between the two states.
Pensions in Latvia that were recalculated with negative capital indexes during the recent economic crisis will be recalculated back starting from 2016 – such an agreement was reached by the Saeima Social and Employment Matters Committee on Wednesday, June 17.
With a scandal growing around the project of removing tons of residual oil from ponds in Inčukalns, the contractor Skonto būve is demanding the government to pay six million euros, its management announced on Tuesday.
Stabilisation as to company insolvency in Central and Eastern Europe was seen in 2014, however, the number of bankruptcies is on the rise in the wider region and Baltics, a credit risk insurer has found.
Chairman of the Latvian Pensioners' Federation presumes that the organisation could demand the resignation of the government of Laimdota Straujuma after the LPF and the government failed to agree on the recalculation of pensions starting 2016.
The Latvian Regional Alliance will word its position on Raimonds Bergmanis the day, when the vote on his candidacy to the post of the Minister of Defence, Dainis Liepiņš, head of the LRA Saeima faction.
The Latvian Saeima had planned last week to pass a law on attributing the supervision of a landmark study of the documents of the Latvian SSR's Committee for State Security (KGB) to the University of Latvia. The vote on the law having been in preparation for two months was then taken off the agenda of the session.
Russia's ban on seafood imports from Latvia and Estonia has in Latvia resulted in a considerable loss of jobs. In June, 583 former workers of the seafood processing industry were registered as being unemployed, over the firsts days of June – another 429.
Following the FIFA scandal which led to the resignation of the embattled world soccer chief Sepp Blatter, Lithuanian football fans urge ouster of key men at the top of the Lithuanian Football Federation (LFF). The reason? A dismal performance by the national squad with a negative record of zero goals scored and 16 goals lost in six matches over the last half-a-year.
Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUProsecutors have this week filed for proceedings at Ventspils' Court the criminal case against three men for the beating a Dutch NATO soldier in 2014.
75% of the Latvian transit sector depend on Russia, which shows both significant economic dependency and a key issue of state security, in an interview with the BNN warned the president of the society Baltic Association – Transport and Logistics.
Estonian ministries are drawing up a plan to put up on the temporary control line with Russia 760 border posts and 412 floating border markers. The draft decision is part of a 79-million-euro-worth programme for modernising the Estonian-Russian border, even though the bilateral border treaty has not been ratified yet.
The Budget and Finance (Taxation) Committee of the Latvian Saeima on Wednesday passed for reviewing in the final reading in the Saeima amendments in the Excise Tax law aimed at raising the excise on alcohol from August 1.
Russian companies continue to invest in Latvia's transit sector, which shows they are interested in using Latvia for cargo transit in the future, the Latvian Security Police (SP) has concluded in its review on it economic security operations in 2014.
- June 29 in pictures
- Banks to be closed in Greece this week
- June 18 in pictures
- Serbia says Hungary's border fence plans no solution to influx of migrants
- June 17 in pictures
- NATO condemns Russia's «nuclear sabre-rattling» | 2
- June 16 in pictures
- June 15 in pictures
- Week in Lithuania. Constitutional Court rules against cap on income tax share for Vilnius
- Photos of the week, 12.06.2015.
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Andris Banders @ 2015-06-26 01:33:02
Lm @ 2015-06-18 23:39:25
Mike Walsh @ 2015-06-18 20:07:13
Linda @ 2015-06-17 21:30:06
Andris Banders @ 2015-06-16 00:12:02
It sounds like a good point at which to revisit the Vocational Education and Training (VET) system in Latvija. The hold back isn't courage, its lack of confidence - two completely different things. Confidence can be gained through a range of processes and products. It's not the way to stimulate Lv business sector by using such terms as courage. Need to be smarter.