James Dahl, Baltic Reports
RIGA — The European Union approved a new memorandum of understanding with Latvia, paving the way for the second year of the bailout program to go into effect.
The EU’s Economic and Financial Committee, which constitutes finance ministers and central bankers from the 27 member states, approved the memorandum Wednesday, a crucial step in opening up finance for nearly bankrupt Latvia.
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EU approves renewed bailout for Latvia