The three Baltic economies face a spiralling economic downturn Edward Lucas TALLINN - Once the fastest-growing economies in Europe, the three Baltic countries are now the opposite. Latvia, which in December received a €7.5 billion ($10 billion) bail-out led by the International Monetary Fund, is basing its budget on a 13% decline in GDP. Estonia and Lithuania expect a decline of a tenth.
(Apr 8th 2009, from The Economist print edition, available in its entirety on the author’s blog,
http://www.edwardlucas.blogspo... )
