Milda Seputyte, Business WeekNov. 4 (Bloomberg) -- The economies of Estonia, Latvia and Lithuania, which suffered the European Union’s deepest recession last year, must cut wages and prices to improve competitiveness, Capital Economics said.
Lithuania’s recent revision of second-quarter growth and slower expansion in the third quarter “highlights the limited extent of the recovery seen in the country so far,” the London- based Capital Economics said in an e-mailed note today. “Lithuania’s recovery is definitely L-shaped.”
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