Something Feral

Digging up the flower-beds.

Monday, February 23, 2009

One-two! And through and through, the inflation went snicker-snack!

They left it dead, and with its debt, they went galumphing back!
RIGA (Reuters) - Latvia's four-party ruling coalition collapsed on Friday and the president called for talks to forge a new government to tackle a deepening economic crisis.

The coalition's fall, the second European government to succumb to the financial crisis, adds to the economic problems of the small Baltic state, which last year had to take a 7.5 billion euro ($9.43 billion) IMF-led rescue loan last year.
This is the second government to fall in the face of the financial collapse, and I am doubtless it will not be the last.


Anonymous said...

I think the newspapers are being sensationalistic when they write that the government "collapsed." It seems that the top politicians resigned but the useful bureaucrats who actually deliver mail and collect trash are still on the job.

Politicians who resign are improving the situation. When the tax-payer funded garbage collectors refuse to show up for work, then the government is *really* collapsing.

Something Feral said...

That entire region of post-Soviet nations is in trouble. Latvia is changing its government yet again, and their financial situation is not improving; it might be a tad early to use "collapse", but the Eastern-bloc ship is taking on water at such a rate that before long, the term will be justified.

MikeT said...

Maybe they should sue the Russians for reparations...

Something Feral said...

Heh. Maybe we could appoint Jesse Jackson and Al Sharpton on a diplomatic mission to Putin to discuss the terms on Latvia's behalf.

Everyone wins!