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Economic Research

Latvia’s Internal Deflation: A Model for Greece?


A number of commentators (see below) are holding up Latvia as a model for Greece, citing it as a successful example of internal deflation, similar to the ‘Plan A’ approach discussed in Greek Endgame: Time for 'Plan B'. However, RGE believes it is still too early to declare Latvia’s adjustment a success. Competitiveness has only modestly improved as the economy heads toward a third straight year of annual contraction. (See insightful posts from bloggers Edward Hugh and Morten Hansen on this topic.)

“The international investor is now confident about Latvia and,[...]

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