New publication: Revisiting the Latvian and Greek Financial Crises

Among the EU countries, Latvia and Greece stand out because, in the midst of the crisis, they had the largest potential budget deficits and they experienced equally large cumulative real output contractions of nearly a quarter of GDP in comparison with their 2008 peak GDP. But their governments pursued the opposite fiscal strategies when the crisis hit. One strategy was successful and the other amounted to a failure.

Read the publication by Anders Åslund about fiscal strategies in Latvia and Greece: Revisiting the Latvian and Greek Financial Crises: The Benefits of Front-Loading Fiscal Adjustment

Anders Åslund, Senior Fellow at the Atlantic Council and chairman of the CASE Advisory Council is an active participant in CASE projects, and author of numerous publications issued within CASE series. In April 2015, Anders Åslund participated in the CASE real-time webinar on Ukraine’s political economy.