Wednesday, July 10, 2013

Economic Reform in the European Union: Latvia as a Role Model: Does the Latvian Experience Hold Positive Lessons?

The English-language German Deutsche Welle carries the headline:
Can Latvia be a role model for reforms in Europe?

Take a look.

Frankly, we do not know the answer to that question.

The economies of the various European Union countries are structurally quite different, so that one shoe will not fit all.

On the other hand, some valuable lessons can be learned from Latvia, especially its successful reduction of spending in the government and public sector as a percentage of GDP, Gross Domestic Product.


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