Military Review

Euro-noose for Latvia?

28
After a democratic and liberal Europe created Cyprus with democracy and liberalism, many holders of large financial savings in the banks of this European Union and Eurozone island state decided to gradually withdraw their capital that was completely uninsured from foreign encroachment. But if you do, where? The Cyprus precedent itself has shown that in the hour “X” a strong “friendly” paw of the world financial centers can reach out where other people's money, let's say, is not lying well. Many, by the way, were convinced that money was already good in Cyprus, and that these deposits were nothing, but as it turned out not so long ago, the money on the island banks was “bad”, and the “friendly” paws of Berlin and Brussels got from the Cypriot banking subsoil decent capital.


So now the capital holders have decided to take care of the future with their “honest and overworking” earned money, and have even looked out for one quiet, in their opinion, harbor. Latvia could become this harbor, which does not shun to provide sites in its banks for capital, the appearance of which is often in doubt. Do not shun, because in the economic situation that is observed in Latvia today, the attraction of any foreign funds to the local banking system is a good airbag against all sorts of financial turmoil.

However, the airbag could be considered as such only up to the moment when the “consulted and decided” European Union, I'm sorry, chop off decent capital held in bank accounts in Cyprus. But the same holders of substantial amounts as deposits in Cypriot banks today are ready to transfer their funds at least somewhere, just to protect themselves from repeating the precedent in Cyprus. According to experts, many have paid attention to Latvia. Why precisely on this Baltic republic?

The fact is that Latvian banks, according to the letter of official reports for the last year, receive a stable profit - 175 million euros, even under the harsh working conditions in which the European Union is trying to drive them. In addition, for the post-crisis period (if the crisis in Latvia, as a part of the EU, was completely over), banks reported an annual increase in the number of customers. So, for only 2012 a year, balances on deposits in Latvian banks increased by about 13%. Another point that allowed the “financial fugitives” from Cyprus to turn their attention to the Latvian banking sector is that the banks of Latvia have been serving a large percentage of non-residents for many years. In particular, the report for 2012 for the year in terms of the number of non-residents of the Latvian banking sector showed that there are more than half of those. In other words, more than half of the Latvian banking system rests on foreign capital, and at the same time, the holders of these capitals have not expressed any discontent with their services.

However, there is a more weighty argument, which turned out to be attractive for large investors who wanted to keep their savings in Latvia. This argument is that Latvia, unlike Cyprus, is not part of the so-called eurozone. For reasons of investors, this gives less chance to the same Berlin and Brussels to launch their buckets in the Latvian banking sector in order to extract funds from it that interest them. How far is this argument related to reality? - It’s not easy to say, but the fact that the Eurocurrency has not yet been introduced in Latvia, which will lock the country into a certain framework, is weighty enough for many investors.

But is it long to be a holiday on the street of those who believe that Latvia is with armor, that is, Latvia without the euro is a reliable option for transferring its funds to this quiet financial haven? Apparently, not for long. The fact is that already from 1 January 2014, Latvia can become another member of the eurozone. At least, this is what Latvia’s current authorities are leading to. Is Latvia ready for this transition?

Before the crisis, the overwhelming majority of citizens of Latvia believed that the country's transition to the euro zone would be beneficial for the Latvian economy, but now (especially after the Cypriot scenario and Greek turmoil) such optimists have diminished significantly. It is noteworthy that an increasing number of representatives of the Latvian business declare that the entry of Latvia into the euro zone will finally put an end to Latvian economic independence, which even today raises certain questions. The reason is called the following: Latvia does not have a development doctrine when using the euro currency. In other words, the euphoria about the introduction of the euro in a country with a certain number of its citizens (and, in particular, the authorities) is there, but no one knows what to do with this eurocurrency and how to correct the economy on its basis. At least, no program, judging by the speeches of Latvian economists, in this regard in the state does not exist. Or it exists, but only gave birth to it at all not even in Latvia, but where there is a vision about the “development” of this Baltic republic. In Germany, for example ...

It should be noted that recently in Latvia economic monitoring has been carried out, which is called monitoring readiness for the introduction of the euro. Such work is carried out by both Latvian and foreign economic structures. According to the first results of this monitoring, there is no clear program for the transition to the euro, not only among the Latvian state structures, but also among 80% of the private business sector. It turns out that only one of the five private companies in Latvia managed to draw up at least some plan that regulates the transfer of accounting policies from lat to euro in accordance with the laws of both Latvia and the European Union. However, only 46% of enterprise managers consider it appropriate to switch to the euro in 2014. The others either do not see any sense in the transition to the Eurocurrency and believe that because of this transition, the Latvian business will start to finally bend over the business of Greater Europe, or see the meaning in the transition when all the prerequisites in Latvia itself are there.

Today in Latvia is the collection of signatures of people who oppose the transfer of the Latvian economy on the rails of the euro. One of the platforms where people vote against the introduction of the euro currency is the platform of the organization “My vote”. In just a few weeks of voting for opponents of the euro, far from the most visited Internet site in Latvia had accumulated about 10,5 thousand. If we take into account those who put their signatures against the introduction of the euro in Latvia during events on the streets of Latvian cities, then according to some data, the total number of opponents can be up to 15-17% of the country's inhabitants. Thus, protest voices can significantly express themselves closer to January 1 2014.

True, there is no reason to doubt that Latvia will switch to the euro in 2014. But it is important that a considerable number of Latvians themselves understand the possible economic negative of this “European transition”. At the very least, the flight of capital from Latvia, which had already managed to escape to Latvia from Cyprus in due time, can fully manifest itself for the Baltic country. Large investors are unlikely to want to take the risk, and therefore the Latvian banking system already at the beginning of 2014 may experience a significant outflow of capital, which can only be replaced by EU loans. And where foreign “friendly” loans flow into the economy, sooner or later their own “Greek economy” is born ...
Author:
28 comments
Information
Dear reader, to leave comments on the publication, you must to register.

I have an account? Sign in

  1. radio operator
    radio operator April 24 2013 09: 08 New
    +5
    Before the crisis, the overwhelming majority of Latvian citizens believed that the country's transition to the euro zone would be favorable for the Latvian economy, but now (especially after the Cypriot scenario and Greek turmoil), such optimists have significantly diminished.

    Their number will decrease further. And not only in Latvia.
  2. Sirocco
    Sirocco April 24 2013 09: 12 New
    12
    Latvians will not be Latvians if they do not step on the rake of Cyprus. I will say so, why the heck is a goat button accordion? What the dollar, what the euro, shakes, I can’t. Predict the collapse of both currencies. And why monitor something in order to understand that they do not need this currency. They didn’t try to act independently in the interests of the Latvian people, and not the handful of bourgeoisie in power of Latvia. It may turn out like in Cyprus, a presidential gang, money was withdrawn, but people with a nose left, but with debts.
  3. omsbon
    omsbon April 24 2013 09: 24 New
    18
    To invest in banks of the Courland dwarf laying states is complete nonsense. These prostitutes will sell and cheat at the earliest opportunity, with joyful cries.
    1. Sirocco
      Sirocco April 24 2013 09: 54 New
      +1
      As it was already. I hope we do not step on this rake. laughing
  4. Opera
    Opera April 24 2013 09: 24 New
    +4
    Eurocurrency, as you know, is one of the main components of political and economic European integration! An interesting trend - it seems that a significant part of the population of countries belonging to the EU but not in the eurozone begins to push and kick off the Euro currency with its hands and feet! And the countries that have entered the eurozone on the ground are beginning to come up with some sort of their "candy wrappers," as goods equivalent to all goods! In particular, there were similar messages from Germany and it seemed that they had already quietly printed stamps! Hmm, it seems that the European integration went well on paper, but not on the one with the watermarks!
  5. Canep
    Canep April 24 2013 09: 47 New
    +1
    I don’t remember who said: - "If you want to succeed, do not do what everyone else does." They kept all the money in Cyprus - bang and there is no money at all. Now Latvia, I think the result will be the same, their general economic situation does not inspire respect and trust, should they ask for money - and bang.
  6. GOLUBENKO
    GOLUBENKO April 24 2013 10: 08 New
    +4
    Latvia will enter the eurozone and the Russian proverb “Let a Latvian have a bubuk and a soul” will become reality, and if the law on “popole” is adopted, as in France, you will be left without a soul, but with a bubuk which is useless without Viagra, only eat without salt when the karachun comes and curses at the same time, for some reason, "Soviet occupiers."
    Kashchenko nervously smokes on the sidelines.
    1. Denis
      Denis April 24 2013 17: 59 New
      +1
      Quote: GOLUBENKO
      but with bubuka
      It’s not scary, but if on bubuk ...
      Not in a kiddy way
      So after all they will leave and they will not be asked
  7. fenix57
    fenix57 April 24 2013 10: 19 New
    +3
    Latvia is now NATO’s external border and therefore, regardless of the results of a population survey, the Latvian leadership will do as the United States wants.
    Alfred Petrovich Rubiks говорил: Latvia's territory for the USA is the best unsinkable aircraft carrier against Russia.
    So the noose for Latvia is already tightened, not weaken. And it will put the EU Latvia in the same position as Cyprus.
    1. Egoza
      Egoza April 24 2013 11: 24 New
      +4
      Quote: fenix57
      The territory of Latvia for the USA is the best unsinkable aircraft carrier against Russia.

      Can’t any tsunami be caused? repeat Then the aircraft carrier will sink. (Joke)
      Latvia will drown itself as soon as the euro enters into law there.
  8. mogus
    mogus April 24 2013 10: 22 New
    +8
    seasoned convicts,
    Wilderness taiga.
    Gathered to escape
    And they took with them
    The young bull.
    Luggage carries
    Young kid
    How hungry it became
    Go to .......

    The United States is trying to arrange a show with slates, bring down prices.
    Pressed Europe- "young bulls" under the knife.
    Games with the price of gold ...
  9. Ghenxnumx
    Ghenxnumx April 24 2013 10: 44 New
    +4
    Oh, it's a pity Old Man invested in the development of the Baltic ports - you can’t work with the Balts in general, against the background of their movements, he still has such cooperation. sad
  10. iliq
    iliq April 24 2013 11: 27 New
    -1
    article - inept draft on the fan.
    cunning system (whether it be the USA, Cyprus, Ireland) the system has always punished and will punish. whether it be stealing banks, living in the debt of the country or tax offshore - it is impossible to enrich due to the constant deception of others. and as reality shows, even with the most liberal laws of capitalism, the cunning people are targeted specifically.
    or in the Russian Federation somehow differently? Borrowing more and more - the time comes when you have to repay the debt ... and "suddenly" it turns out that even with interest there is nothing! Yes, and they are trying to make the lender extreme for their waste laughing
    1. FATEMOGAN
      FATEMOGAN April 24 2013 12: 57 New
      +6
      Quote: iliq
      cunning system (whether it be the USA, Cyprus, Ireland) the system has always punished and will punish. whether it is stealing banks, living in the debt of the country or tax offshore - it is impossible to enrich themselves through the constant deception of others

      They made fun, however, who will punish the US? The United States will punish themselves, or you personally press them to the nail? laughing Cyprus has already been spread, for the fact that under pressure they bought Greek stagnant papers, this is understandable, it is interesting how the System (read the United States) will punish the United States with a public debt of 17 trillion or England with France, Germany .... having trillion debts, do not tell me, when will this life progenitor begin?
      1. iliq
        iliq April 24 2013 13: 09 New
        0
        Quote: FATEMOGAN
        They made fun, however, who will punish the US? USA will punish themselves

        truly noticed! Where is Lehman Brothers Inc.? Has there been a housing crisis in the US recently?

        Quote: FATEMOGAN
        Cyprus has already been spread, for the fact that under pressure bought Greek stagnant papers,

        wassat

        Quote: FATEMOGAN
        I wonder how the System (read the United States) will punish the United States with a public debt of 17 trillion

        see above.

        Quote: FATEMOGAN
        England with France, Germany.

        so they have already thrown their denyuzhek into Ireland, Greece, Cyprus ... Germany in my opinion about 800 euros ...

        Quote: FATEMOGAN
        having trillions of debts, do not tell me when this progenitor of life begins?

        Germans, for example, have introduced strict legislative restrictions on the borrowing of money by state institutions, and by 2020 they must pay all loans in the amount of 1800 billion euros ... many communes (village councils) do not have money for the most necessary ...
        1. FATEMOGAN
          FATEMOGAN April 24 2013 15: 24 New
          0
          Quote: iliq
          truly noticed! Where is Lehman Brothers Inc.? Has there been a housing crisis in the US recently?

          What does it have to do with Cyprus as a state that at least was allowed to bomb and the bankruptcy of a private shop - Lemon Brothres, whose bankruptcy was a planned step, and here is confirmation - "The head of the American investment bank Lehman Brothers told members of Congress that over the past eight years in the form he received $ 300 million in bonuses and salaries. " Or do you think Such money is paid to people when they perplexedly bring the company to bonkrostva?

          Quote: iliq
          I wonder how the System (read the United States) will punish the United States with a public debt of 17 trillion. Above.

          The fact of the matter is that I did not see how the Americans punished themselves, what has changed, can they ceased to live in debt? laughing The global financial crisis that hit the economy did not make the rich poorer, on the contrary: the fortune of the world's 1210 richest people reached $ 2010 billion in 4500. And if the number of poor increased with the crisis (64 million people have to live on less than $ 1,25 per day), the number of billionaires has increased. So don’t need to rub. look who profited from it and it becomes clear who organized it.

          And the Germans are trying to build their fourth Reich, with these loans, they are no longer people, but they are driving entire countries into slavery, you have not answered, except for Cyprus and others, I apologize for the scapegoats, whom the system punished, and the answer is simple - nobody. Because this parasitic system is the United States of America and their mongrel, such as France and England, and as long as they betray their tail, everything will be hockey with them, and God forbid they will give their voice as they get the Cyprus variant at home.
          1. iliq
            iliq April 24 2013 15: 39 New
            +1
            Quote: FATEMOGAN
            Or do you think Such money is paid to people when they perplexedly bring the company to bonkrostva?

            you better tell us about the depositors of this bank;)
            Well, somehow forgot to mention the housing bubble?

            Quote: FATEMOGAN
            The global financial crisis that hit the economy has not made the rich poorer, on the contrary:

            doesn’t this mean anything? that in the USA they began to live poorer, and what does the vast majority of the population have to do with it?

            Quote: FATEMOGAN
            So don’t need to rub. look who profited from it and it becomes clear who organized it.

            and how, did the average American live richer? laughing

            Quote: FATEMOGAN
            And the Germans are trying to build their fourth Reich

            drinks
            do not abuse hallucinogens like that!

            Quote: FATEMOGAN
            whom the system punished, and the answer is simple - nobody.

            Well, as if these "nobody" have money to repair roads, repair schools ... and 25% of Germans work and go to the state for a surcharge up to the cost of living ...

            Quote: FATEMOGAN
            like France and England, and as long as they betray their tail, everything will be their hockey,

            But what about youth unemployment in France? all hockey? in Italy and Spain? Portugal?
            so don’t need la-la about how well they live and that they weren’t covered. punished bless you, in the next couple of years, politics will change.
            the Germans are already starting to almost 180 degrees change. about the Swiss, who set the upper limit for paying managers, I generally said nothing;)
            1. FATEMOGAN
              FATEMOGAN April 24 2013 19: 57 New
              0
              America’s beginning seems to have explained everything, but you give the same examples. What are Lemon brothers. that the soap bubble in real estate is the links of the same chain, when the rich, having turned around, became richer, and the poor became even poorer, there was a redistribution of money and assets, the rich earned on this business, that’s the whole theory with practice. What is the difference to private companies how ordinary citizens began to live poorly when they began to live better, and note, no one was punished for this crisis, people who eliminated all this just got promoted, most of them began working in President Obama’s apartment
              , and in the economic department wassat
  11. Arct
    Arct April 24 2013 11: 46 New
    +7
    In Latvia.
    "If before the crisis times, the overwhelming majority of Latvian citizens believed that the country's transition to the euro zone would be favorable for the Latvian economy" - the data are incorrect in the root, for they are taken from sociological surveys conducted by the interested party. If you do not take into account the power and banking structures, then only people who were interested in switching to the Euro in Latvia did not care what to be interested in (as they say, they will bark). Businesses did not need this transition, ordinary people were not interested, and even among banking structures there was a separation (there were banks subordinate to the banks of the Central European countries (Germany, France, Denmark), respectively, the Swedish, pro-American and pro-Russian were against).
    Latvia was never seen as an “unsinkable aircraft carrier”, and no one created the appropriate military infrastructure here. Latvia, this is the eyes and ears, as well as the buffer zone - a pillow on the territory of which you can conduct military operations.
    Lat, as such, was created for speculative games. And accordingly, there are players who do not want to change the current situation. So they drag out the process of transition to the Euro in the first place.
    If Latvia switches to the Euro, there will be only one result. The next jump in prices (and it does not matter that it is not justified by anything).
    1. iliq
      iliq April 24 2013 12: 29 New
      0
      Quote: Arkt
      If Latvia switches to the Euro, there will be only one result. The next jump in prices (and it does not matter that it is not justified by anything).

      why there should be a jump in prices? for what?
      near Estonia and the euro - how much do the prices differ?

      Quote: Arkt
      Lat, as such, was created for speculative games.

      well so what will be surprised if the economy is only on this? and as soon as others (European countries) do not want to put up with this - so immediately the songs about "stranglers of democracy" and "they do not give us a good life", "the EU and the euro are bad" ???
  12. Arct
    Arct April 24 2013 12: 43 New
    +4
    The question is correct, but there will still be a leap, although not substantiated. As in any country that has ever switched to the Euro.

    As for the second question, I’ll ask a counter-question: how is Latvia in the USSR worse than Latvia in the EU with the euro? Is history repeating itself? )
    1. iliq
      iliq April 24 2013 12: 59 New
      -1
      Quote: Arkt
      but there will still be a jump, albeit not substantiated. As in any country that has ever switched to the Euro.

      yes give up! the prices will be the same as those of the neighbors (for food, clothes and other goods), I will not say for housing, but they will not jump to the level of Germany;)

      Quote: Arkt
      As for the second question, I’ll ask a counter-question: how is Latvia in the USSR worse than Latvia in the EU with the euro? Is history repeating itself? )

      and this story is always repeated. but if earlier such processes required wars and centuries, then in today's world everything "fits" in a couple of decades ...

      well, at the approach a new ideology that will correspond to modern realities - the capitalism of the 80s is coming to an end.
  13. Arct
    Arct April 24 2013 14: 13 New
    +3
    iliq, I won’t give up, because I myself lived in Latvia and the story with an unjustified price increase took place repeatedly) Therefore, there will be a jump. And of course, it makes no sense to compare with prices in the developed countries of Europe, as well as, probably, the level of salary)
    1. iliq
      iliq April 24 2013 14: 26 New
      -1
      Quote: Arkt
      And of course, it makes no sense to compare with prices in the developed countries of Europe, as well as, probably, the level of salary)

      so compare, what's the matter? in Poland in Rossman cosmetics branches everything costs in zlotys as much as in Germany in euros. food products - +/- 10%. clothes, electronics, etc. consumer goods - a little cheaper.

      Quote: Arkt
      he himself lived in Latvia and the story with unreasonable price increases took place repeatedly)

      and as we see, this has nothing to do with the euro ... because in Latvia money is lat;)
      the fact that the local thieves will still want to snatch themselves is unequivocal, but with a single currency it can be purchased in a neighboring state - so the number will not work.
  14. Mhpv
    Mhpv April 24 2013 14: 15 New
    +1
    SchA iPhone will open the Russian nano-offshore and we ourselves will rob the nanobourgeois tongue
  15. washi
    washi April 24 2013 15: 53 New
    +1
    All that is needed is for ours to withdraw their money from their banks. It mainly spins the "black" cash.
  16. Mikhail3
    Mikhail3 April 24 2013 16: 32 New
    +1
    How much did the author receive for advertising Latvian banks? Because the article is primarily an overt advertising. Blinded for a specific purpose - here you have a platform for overexposure until the 2014 of the year, fly cheaper, Latvian banks are consistently making a profit! We understood that they lend to the heavy-duty Latvian industry, the huge mineral resources of Latvia bring banks stable income when working with mining companies ...
    Everything else that the author pushed for volume, but in order to get into the stream, then be simpler than the pan, of course, in the trend! All this can not be read, because complete nonsense, or commonplace. Unfortunately, the browser only cuts off banners. Advertising of this kind cannot yet be cut off programmatically ...
  17. Denis
    Denis April 24 2013 18: 11 New
    +1
    where there is a vision for the "development" of this Baltic republic. In Germany, for example ...
    Again a bummer, and they were so diligently gearing ...
    Latvian banks? -Not, I haven’t heard. Maybe the experts think differently, but here’s the opinion of the average person (mine). If you suddenly decide to put money in a European bank, I’ll choose a reliable one. Everyone knows the reliability symbol in the banking system. Comparing Swiss banks with Lithuanian ones anyway that the German auto industry with Indian
    Although there they are clearly not waiting for my contributions
  18. vlad767
    vlad767 April 24 2013 19: 04 New
    +2
    With Euro, Latvia will sink to the bottom like the Titanic. Although no, faster. Because our politicians inflate any problem with unenviable constancy to not frail sizes. Yes, and not necessarily a problem, they can inflate from an even place. recourse
  19. Dmitry 2246
    Dmitry 2246 April 24 2013 22: 38 New
    0
    The name of the currency does not matter.
    It is important to have transport infrastructure and its proper use.
    There is infrastructure, but we do not make sense to cooperate with a hostile “aircraft carrier”, so everyone who is not the enemy with us ..
    This is how you behave.
    And the Balts themselves will destroy their economy.
  20. Ulysses
    Ulysses April 24 2013 23: 40 New
    0
    Type in any search engine "The End of the Baltic Tiger."
    Painted in colors.
    http://oko-planet.su/politik/politiklist/88607-konec-latvii-ili-besslavnaya-gibe
    l-baltiyskogo-tigra.html
  21. Arct
    Arct April 25 2013 00: 03 New
    -1
    Iliq, what kind of nonsense about cosmetics is this type of very important product for life support?
    Do not compare x .. with your finger. Poland is a speculator on the one hand plus a country on the other, a mass producer of consumer goods. Hence the corresponding prices.
    And what about the procurement in the neighboring state - is that for the show off? Will you go for bread and milk for 500 km? Didn’t you try to count gasoline? )
  22. spravochnik
    spravochnik April 25 2013 00: 19 New
    +1
    Latvia was never seen as an “unsinkable aircraft carrier”, and no one created the appropriate military infrastructure here.
    The infrastructure was created and is being created. Only do it quietly and whenever possible imperceptibly. For example, the former Soviet airfield is now being pulled up to NATO standards.
    And there were almost no Latvian banks left, of the large, mainly Scandinavians. Authorities commissioned by the Scandinavians ruin their banks one after another with enviable tenacity and constancy. And the prices for much are already higher than in Europe. And they will also jump during the transition, as it was in Estonia (well, there also seem to be European neighbors).
  23. Genoezec
    Genoezec April 25 2013 09: 21 New
    0
    But will not the Latvians be thrown from the euro? And it will turn out near our borders, as in Cyprus ...