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Latvia's Recession and Recovery: Are There Lessons for the Eurozone?

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Published on Apr 19, 2012

This is a panel with Mark Weisbrot and Anders Aslund on the recession and recovery in Latvia, held on April 11, 2012, in Washington D.C.

Latvia suffered some of the worst losses of output and employment during the world financial crisis and recession (2008-2009), pursuing a strategy of "internal devaluation" while keeping its currency pegged to the euro. Some have argued that these losses represent a severe policy failure; while others argue that the country's economic recovery since the 4th quarter of 2009, and other achievements, show that the strategy succeeded. This video presents these two opposing views.

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