1st quarter European Union GDP down 4.4%, Germany down 7%, Latvia 19% (user search)
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  1st quarter European Union GDP down 4.4%, Germany down 7%, Latvia 19% (search mode)
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Author Topic: 1st quarter European Union GDP down 4.4%, Germany down 7%, Latvia 19%  (Read 1386 times)
Gustaf
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« on: May 15, 2009, 04:07:23 PM »
Quote from: Rebel Without A Cause on May 15, 2009, 02:18:11 PM
Awesome chart Tender.

Thanks.

And... ouch... Latvia's done VERY badly. Does anyone know why it's hit them so hard?

They allowed their economy to over-heat. One big mistake was fixing their exchange rate to the euro, which prevented them from cooling down the economy through appreciation of their currency and higher interest rates.

And just generally reck-less economic policies.
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