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Latvian PM (and his government) quits as crisis bites

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  • Latvian PM (and his government) quits as crisis bites

    Latvian Prime Minister Ivars Godmanis and his government have resigned, amid political turmoil triggered by the Baltic state's economic crisis.

    President Valdis Zatlers has accepted the resignations.

    Earlier the two largest parties in the ruling centre-right coalition had demanded the PM's resignation.

    International lenders, including the IMF, World Bank and EU, have pledged 7.5bn euros (£6.6bn; $9.5bn) to shore up Latvia's struggling economy.

    Protesters demanding the government's resignation clashed with police in the capital Riga on 13 January.

    But Mr Godmanis then survived a parliamentary no-confidence vote on 3 February.

    Latvia's economy is in recession, having shrunk at the fastest rate since the early 1990s, when it split from the Soviet Union. It is expected to contract by 12% this year.

    Gross domestic product (GDP) fell 10.5% in the last quarter of 2008, compared with the same period a year earlier.

    The Latvian economy had been booming for several years, but the global credit crunch hit the country hard.

    http://news.bbc.co.uk/2/hi/europe/7901902.stm

  • #2
    equipment to Afghanistan to transit Latvia

    This should help the Latvia economy some, though I'm really curious as to why this stuff is being shipped this route.

    (article in Russian, summary my translation)

    "Афганский транзит" пошел через Латвию
    http://rus.delfi.lv/news/daily/latvi...hp?id=23281429

    20 - 30 trains a week with 100 containers at a time, containing camoflage material, food and civilian equipment from the USA.

    The containers will arrive by sea entering through the port of Riga for transport by rail via the RF, Kazahstan and Uzbekistan.

    Latvian companies providing the transport through Latvia are expected to receive 400 - 450 EUR / container, or around 15,5m EUR total for transport through Latvia. This is a purely commercial arrangement.
    Justice is the cornerstone of the world

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    • #3
      Re: equipment to Afghanistan to transit Latvia

      Originally posted by cobben View Post
      This should help the Latvia economy some, though I'm really curious as to why this stuff is being shipped this route.

      (article in Russian, summary my translation)

      "Афганский транзит" пошел через Латвию
      http://rus.delfi.lv/news/daily/latvi...hp?id=23281429

      20 - 30 trains a week with 100 containers at a time, containing camoflage material, food and civilian equipment from the USA.

      The containers will arrive by sea entering through the port of Riga for transport by rail via the RF, Kazahstan and Uzbekistan.

      Latvian companies providing the transport through Latvia are expected to receive 400 - 450 EUR / container, or around 15,5m EUR total for transport through Latvia. This is a purely commercial arrangement.
      2009 gov't fail watch...

      iceland government resigns... check.
      latvia government resigns... check.
      iireland government resigns...
      uk government resigns...
      spain government resigns...
      italy government resigns...
      japan government resigns...

      china government resigns? nah. wasn't elected!

      we have a winner!

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