Economic collapse in Latvia

The daily Polska sees the heavy rioting in the Latvian capital Riga as the beginning of a social transition on a par with the country's achieving independence in the early 1990s. "The representatives of the Latvian government have named the Latvian people's aversion to living on credit as the cause of the crisis. But the reasons lie elsewhere. From the very beginning the policymakers in Latvia lacked a clear vision of how to implement effective economic reform. The incompetence of several governments, the ties between the government and Russia and the propensity to corruption in many areas of life following several decades of communism have led to Latvia's total economic collapse."

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