Well, although I believe the Latvia currency should be devalued - at least to squeeze out the lazy local entrepreneurs that are sleeping on laurels, but not now, if one wants to avoid the Ukraine's real-time experience ...
This is an experiment and economists may have different opinions. I will revert to this issue in more depth later on, but IMF’s mission chief Christoph Rosenberg has an interesting piece "Why the IMF Supports the Latvian Currency Peg?" at Roubini's RGE Monitor, see for full article here: http://www.rgemonitor.com/euro-monitor/254975/why_the_imf_supports_the_latvian_currency_peg .
Moody's Investors Service has today downgraded the foreign and local currency ratings of the Government of Latvia to Baa1 from A3. The outlook on the ratings remains negative. See for more here at Bloomberg.com : http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aINL1Ng.wElE . Who has got it easy these days?
Writing interrupted by stock market action now - "short term" technicals are turning down, see S&P500 chart here at StockCharts.com: http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p93514998268 ... Well, it is too early to go short, but watch out! Short term opportunity?
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