RIGA — Latvia’s oligarchic duo, newly merged and currently on a tour around the country, has suggested that the government should cancel its agreement with international lenders such as the IMF and EU.
Andris Šķēle and Ainars Šlesers believe that the three-year €7.5 billion bailout agreement has shackled the government’s possibility to maneuver as it struggles to resuscitate the country’s moribund economy.
“This idea of the economy having [private_supervisor]stabilized is an illusion. It only took place thanks to the international loan. The government has ended up in the same situation as those residents who borrowed money to buy a home or buy thinking all was well. The results of such decisions are visible now,” Šlesers, Riga’s deputy mayor and leader of the Latvia’s First/Latvia’s Way Union, was reported by the Delfi news portal as saying.
Despite previous support of the bailout, Andris Šķēle and Ainars Šlesers now say the three-year €7.5 billion agreement has shackled the government’s ability to resuscitate the country’s economy.
In Dec. 2008, the previous Latvian government, faced with imminent bankruptcy, agreed to an emergency loan program with international creditors, including the Scandinavian countries. The bulk of the loan is financed by the European Union, though IMF officials are playing a leading role in monitoring compliance of the accompanying austerity program. Remarkably, Šlesers’ party headed the government — former Prime Minister Ivars Godmanis is a party colleague — when the agreement was signed, and Šķēle’s People’s Party signed on to the program.
Thus both share responsibility for the loan and its attendant austerity plan that has pummeled Latvia’s economy so ruthlessly. Whether voters in October will recall this “detail” remains to be seen.
Regardless, the statement reflects the business magnates’ attempts to distance themselves from the unpopular loan as they travel around the country in what is effectively a joint pre-election campaign.
The latest (AŠ)² political advertisement being shown on Latvian television (in Latvian language).
With just five months left to the crucial ballot, the two men’s combined party rating is less than 5 percent, a frightening omen for their political careers. Both men believe that the government should negotiate a better deal with creditors. Commenting the proposal, Prime Minister Valdis Dombrovskis told the LTV news channel that he never heard so much stupidity in one speech and that the two men are engaging in pure populism.
On Sunday Šlesers and Šķēle, who are marketing themselves with the symbol (AŠ)², proposed sweeping reform of Latvia’s upper education system in order to make it more competitive. The two men are scheduled to speak in Jelgava on May 14 and in Liepāja the following day. [/private_supervisor] [private_subscription 1 month]stabilized is an illusion. It only took place thanks to the international loan. The government has ended up in the same situation as those residents who borrowed money to buy a home or buy thinking all was well. The results of such decisions are visible now,” Šlesers, Riga’s deputy mayor and leader of the Latvia’s First/Latvia’s Way Union, was reported by the Delfi news portal as saying.
Despite previous support of the bailout, Andris Šķēle and Ainars Šlesers now say the three-year €7.5 billion agreement has shackled the government’s ability to resuscitate the country’s economy.
In Dec. 2008, the previous Latvian government, faced with imminent bankruptcy, agreed to an emergency loan program with international creditors, including the Scandinavian countries. The bulk of the loan is financed by the European Union, though IMF officials are playing a leading role in monitoring compliance of the accompanying austerity program. Remarkably, Šlesers’ party headed the government — former Prime Minister Ivars Godmanis is a party colleague — when the agreement was signed, and Šķēle’s People’s Party signed on to the program.
Thus both share responsibility for the loan and its attendant austerity plan that has pummeled Latvia’s economy so ruthlessly. Whether voters in October will recall this “detail” remains to be seen.
Regardless, the statement reflects the business magnates’ attempts to distance themselves from the unpopular loan as they travel around the country in what is effectively a joint pre-election campaign.
The latest (AŠ)² political advertisement being shown on Latvian television (in Latvian language).
With just five months left to the crucial ballot, the two men’s combined party rating is less than 5 percent, a frightening omen for their political careers. Both men believe that the government should negotiate a better deal with creditors. Commenting the proposal, Prime Minister Valdis Dombrovskis told the LTV news channel that he never heard so much stupidity in one speech and that the two men are engaging in pure populism.
On Sunday Šlesers and Šķēle, who are marketing themselves with the symbol (AŠ)², proposed sweeping reform of Latvia’s upper education system in order to make it more competitive. The two men are scheduled to speak in Jelgava on May 14 and in Liepāja the following day. [/private_subscription 1 month] [private_subscription 4 months]stabilized is an illusion. It only took place thanks to the international loan. The government has ended up in the same situation as those residents who borrowed money to buy a home or buy thinking all was well. The results of such decisions are visible now,” Šlesers, Riga’s deputy mayor and leader of the Latvia’s First/Latvia’s Way Union, was reported by the Delfi news portal as saying.
Despite previous support of the bailout, Andris Šķēle and Ainars Šlesers now say the three-year €7.5 billion agreement has shackled the government’s ability to resuscitate the country’s economy.
In Dec. 2008, the previous Latvian government, faced with imminent bankruptcy, agreed to an emergency loan program with international creditors, including the Scandinavian countries. The bulk of the loan is financed by the European Union, though IMF officials are playing a leading role in monitoring compliance of the accompanying austerity program. Remarkably, Šlesers’ party headed the government — former Prime Minister Ivars Godmanis is a party colleague — when the agreement was signed, and Šķēle’s People’s Party signed on to the program.
Thus both share responsibility for the loan and its attendant austerity plan that has pummeled Latvia’s economy so ruthlessly. Whether voters in October will recall this “detail” remains to be seen.
Regardless, the statement reflects the business magnates’ attempts to distance themselves from the unpopular loan as they travel around the country in what is effectively a joint pre-election campaign.
The latest (AŠ)² political advertisement being shown on Latvian television (in Latvian language).
With just five months left to the crucial ballot, the two men’s combined party rating is less than 5 percent, a frightening omen for their political careers. Both men believe that the government should negotiate a better deal with creditors. Commenting the proposal, Prime Minister Valdis Dombrovskis told the LTV news channel that he never heard so much stupidity in one speech and that the two men are engaging in pure populism.
On Sunday Šlesers and Šķēle, who are marketing themselves with the symbol (AŠ)², proposed sweeping reform of Latvia’s upper education system in order to make it more competitive. The two men are scheduled to speak in Jelgava on May 14 and in Liepāja the following day. [/private_subscription 4 months] [private_subscription 1 year]stabilized is an illusion. It only took place thanks to the international loan. The government has ended up in the same situation as those residents who borrowed money to buy a home or buy thinking all was well. The results of such decisions are visible now,” Šlesers, Riga’s deputy mayor and leader of the Latvia’s First/Latvia’s Way Union, was reported by the Delfi news portal as saying.
Despite previous support of the bailout, Andris Šķēle and Ainars Šlesers now say the three-year €7.5 billion agreement has shackled the government’s ability to resuscitate the country’s economy.
In Dec. 2008, the previous Latvian government, faced with imminent bankruptcy, agreed to an emergency loan program with international creditors, including the Scandinavian countries. The bulk of the loan is financed by the European Union, though IMF officials are playing a leading role in monitoring compliance of the accompanying austerity program. Remarkably, Šlesers’ party headed the government — former Prime Minister Ivars Godmanis is a party colleague — when the agreement was signed, and Šķēle’s People’s Party signed on to the program.
Thus both share responsibility for the loan and its attendant austerity plan that has pummeled Latvia’s economy so ruthlessly. Whether voters in October will recall this “detail” remains to be seen.
Regardless, the statement reflects the business magnates’ attempts to distance themselves from the unpopular loan as they travel around the country in what is effectively a joint pre-election campaign.
The latest (AŠ)² political advertisement being shown on Latvian television (in Latvian language).
With just five months left to the crucial ballot, the two men’s combined party rating is less than 5 percent, a frightening omen for their political careers. Both men believe that the government should negotiate a better deal with creditors. Commenting the proposal, Prime Minister Valdis Dombrovskis told the LTV news channel that he never heard so much stupidity in one speech and that the two men are engaging in pure populism.
On Sunday Šlesers and Šķēle, who are marketing themselves with the symbol (AŠ)², proposed sweeping reform of Latvia’s upper education system in order to make it more competitive. The two men are scheduled to speak in Jelgava on May 14 and in Liepāja the following day. [/private_subscription 1 year]
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Brilliant idea – scrap the loan.!Of course Latvia will have to pay back the money it has taken so far, but in order to do so it could perhaps take out a loan. Problem solved.
All those two care about are their business interests. They are in politics so they adapt state of Latvia to make more money. Most of current misery is caused by actions of such people like these two criminals. Scrapping the loan would be an easy option as they would not be responsible for their deeds anyway. Business as usual. Stealing as usual. Latvia is a pathetic state run by criminals like Šlesers and Škele.