(Bloomberg) -- Latvia’s strategy to narrow its deficit while keeping the lats fixed to the euro is a “success” and may be a model for other countries, said Anders Aslund of Washington-based Peterson Institute of International Economics.
“Latvia now looks like a success model and in Washington people typically say that the Greeks should look at Latvia to learn how to handle a crisis,” Aslund said in an interview in Riga yesterday. Other countries can learn from Latvia that “you hit hard and cut hard, you face up to the major problems.”
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Latvian Austerity Plan Is a ‘Success,’ Peterson’s Aslund Says