News

Several crises ahead in next ten years, bank president says
04.11.2011	Send to a friend     Contact us
There will be plenty of financial crises in Europe similar to that of Latvia's in 2008 in the next ten years, according to Swedbank president in Latvia Maris Mancinskis. In an interview with Nozare.lv. Mr Mancinskis said many more crises will manifest themselves in various shapes and forms in the next few years. Mr Mancinskis said it was important for everyone in Latvia to concentrate on the future financial picture in the country rather than focusing on trying to avoid the same mistakes from 2008. "Crises come and go. This was certainly not the last one, and there will be more - in Latvia and in the world," he continued. Mr Mancinskis added that people in the economy should not be naive and hope that everything will be completely different in the future as there will also be financial instabilities. Latvia's economy has seen rapid improvements since 2008, when the European Union and the International Monetary Fund had to bail out the nation's second-largest lender Parex. This news item is brought to you by KMS Baltics in conjunction with Fest-Forest and EST KINNISVARA. Baltic forestry and property specialists. Click here to find out more about Timber Investment with us or call us on 00441668 213693.

Related news:

• EBRD: Balkan economies will sustain growth (15.05.2013)
• IMF takes positive view on Lithuania joining the euro (15.02.2013)
• Local and international equity investors look to the Baltics (27.11.2012)
• Latvia 'on track' to join eurozone (23.10.2012)
• Latvia and Estonia see rising export activity (18.10.2012)
• Estonia ratifies ESM treaty (13.09.2012)
• Latvia's annual inflation 1.7% in August (11.09.2012)
• Latvia 'must enter top-40 competitive countries' (06.09.2012)
• Estonian economy 'performing well' (06.08.2012)
• Latvia 'could join eurozone in 2014' (02.08.2012)