Friday, February 20, 2009

Latvian government falls, president seeks new PM

Latvia's four-party ruling coalition collapsed on Friday and the president called for talks to forge a new government to tackle a deepening economic crisis.
The coalition's fall, the second European government to succumb to the financial crisis, adds to the economic problems of the small Baltic state, which last year had to take a 7.5 billion euro ($9.43 billion) IMF-led rescue loan last year.
Political and social tensions exploded in January into a riot, though there has been little sign of a repeat in Latvia, a European Union and NATO member since 2004. The political crisis struck as a team from the International Monetary Fund visited Latvia.
Reuters

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