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Mas Ambrose continua pessimista: "The crucifixion of Latvia"
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"We know from leaked documents that the Fund advised Latvia to ditch the peg last year. IMF experts were overruled by Brussels. The reason, of course, was to prevent:
- 1) a chain of falling dominoes in Eastern Europe;
- 2) a default shock for West European banks with $1.6 trillion (£970bn) of exposure to the region;
- 3) leakage from Bulgaria across the EU line into Greece – euroland's Achilles heel.
Latvian society is being sacrificed to buy time for EMU's dysfunctional system. It is the designated martyr for the EU Project.
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When Latvians wake up to what is being done to them, more than a wretched peg will go."
Sei que Ambrose é um anti-euro, mas sinto que ele tem alguma (muita) razão.
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