ΠΗΓΗ: Guardian
by M. Weisbrot
In recent months some advocates of Europe's austerity policies have been touting Latvia as a success story that shows how "internal devaluation" can work. This was the theme of a book published earlier this year by the Peterson Institute for International Economics, one of Washington's most influential think tanks. The book was co-authored by the Institute's Anders Aslund and Latvia's prime minister Valdis Dombrovskis.
The case study is relevant to Europe because there are important similarities between Latvia's economic strategy since 2008 and that which is now being promoted by the European authorities – the European Commission, the European Central Bank, and the International Monetary Fund (IMF), otherwise known as "the troika".
At first glance it might seem ridiculous to call an economic strategy a success if a country loses 24% of its output – the worst in the world for the crash of 2008-2009 – and official unemployment shoots up from 5.3% in 2007 to more than 20% in early 2010.













ανελλαδική Συνάντηση του Μετώπου Αλληλεγγύης και Ανατροπής.








