Latvia has it bad

Wookster

Latvia's economy shrinks rapidly



http://news.bbc.co.uk/1/hi/business/7879529.stm

Gross domestic product (GDP) fell 10.5% in the last quarter of 2008 from the same period a year earlier.
The Latvian economy had been booming for several years, driven by consumer demand, but was hit hard last year amid the global financial crisis.
Economists believe that Latvia's GDP could fall as much as 10% this year.
"We are dropping in the hole faster than we expected," said Andris Vilks, chief economist at banking group SEB. "I would say that we will see double-digit [GDP] decreases for the first and second quarter."

That is what I call a depression.

chucky

Wookster wrote: »

Latvia's economy shrinks rapidly



http://news.bbc.co.uk/1/hi/business/7879529.stm




That is what I call a depression.

yes - another major global economy is in trouble!?

Kev09

They have always got the Eurovision song contest to look forward to!

piggeh

Were Latvia part of Russia? Excuse my geographical/historical ignorance.

Kev09

Yeah I think they were part of the old USSR!, still in Eurovision though, as is Israel, Explain that one!!!!

housesitter

It's one of my destinations for a holiday this year so I guess they'll be loving me

mower5

Kev09 wrote: »

Yeah I think they were part of the old USSR!, still in Eurovision though, as is Israel, Explain that one!!!!

ok
C&P from wiki! Quote:

Eligible participants include Active Members (as opposed to Associate Members) of the European Broadcasting Union. Active members are those whose states fall within the European Broadcasting Area, or otherwise those who are members of the Council of Europe.[
The "European Broadcasting Area" is bounded on the west by the western boundary of Region 1, on the east by the meridian 40° East of Greenwich and on the south by the parallel 30° North so as to include the western part of the USSR, the northern part of Saudi Arabia and that part of those countries bordering the Mediterranean within these limits. In addition, Iraq, Jordan and that part of the territory of Turkey lying outside the above limits are included in the European Broadcasting Area.
:whistle:

Rochdale_Pioneers

Don't forget everyone - its all Brown's fault, and we're going to suffer the worst of anyone.....

lynzpower

bo_drinker wrote: »

A lot from over there have been working here creaming it for a while now. Many have stayed and made the most of our generous benefits system and NHS. Shelling out kids and bringing their parents over for a dip in the trough. Well it's not looking too rosey here either so lets hope they follow the Polish and fk off. They can take their death trap un insured not MOT'd cars with them.

unacceptably racist & reported to abuse .

iolanthe07

unacceptably racist & reported to abuse .

And sod free speech.

ultra10

lynzpower wrote: »

unacceptably racist & reported to abuse .

Are Latvians a differant "Race" or just a differant Nationality ?