Language
English
Among the EU countries, Latvia and Greece stand out because, in the midst of the crisis, they had the largest potential budget deficits and they experienced equally large cumulative real output contractions of nearly a quarter of GDP in comparison with their 2008 peak GDP. But their governments pursued the opposite fiscal strategies when the crisis hit. One strategy was successful and the other amounted to a failure.
Read the publication by Anders Åslund about fiscal strategies in Latvia and Greece: Revisiting the Latvian and …read more