Latvia News
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Rates to ship gasoil in northwest Europe had this year’s biggest weekly increase after BP Plc booked tankers to carry refined fuel from the region to Algeria, draining vessel supply.
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Estonian Prime Minister Andrus Ansip congratulated his Latvian counterpart, Valdis Dombrovskis, on his country’s “imminent” adoption of the euro, a week and a half before the European Commission weighs in on Latvia’s bid.
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Lithuania’s budget deficit has become a bigger hurdle than inflation to adopting the euro in 2015 as economic growth slows and tax collection falters, central bank Deputy Chairman Raimondas Kuodis said.
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On the eve of the American Civil War, Abraham Lincoln famously said that “a house divided cannot stand.” Today, the European Union -- committed for decades to the quest for “ever closer union” -- must confront an agonizing truth. Lincoln’s maxim must be inverted. For the EU to survive, the euro must divide.
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Latvia may sell bonds in euros or other currencies in the second half of this year after the country wins approval to adopt Europe’s common currency, Finance Minister Andris Vilks said.
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Lithuanian Finance Minister Rimantas Sadzius said joining the euro will help his country’s economy by boosting its ability to attract international financing.
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The U.S. invaded Afghanistan more than 12 years ago with a contingent of special forces and Central Intelligence Agency officers, some of them on horseback, armed with laser pointers to direct air strikes against al-Qaeda and its Taliban hosts.
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Unicredit SpA plans to give up its banking license in Latvia and focus on leasing in the three Baltic states, the lender said in a statement on its website today.
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Latvia’s economy expanded at the slowest pace in more than two years in the first quarter as manufacturing contracted.
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Far from undermining the euro’s credibility, the debt crisis has underscored the currency’s durability, Finland’s Europe Minister Alexander Stubb said.
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