EU To Support Lat "At Any Price" ...

According to Reuters, the headlines and key excerpts:

* Latvian prime minister expects next loan tranche soon
* PM says lat currency's euro peg to stay
* EU to support lat "at any price," calls for budget cuts
* Sweden taps ECB for funds to shield Baltic-exposed banks
................

Almunia (EU Economic and Monetary Affairs Commissioner) said continued spending cuts, which will only increase the pain of the crisis for ordinary Latvians, were needed to ensure pay-outs from the emergency package backed by Brussels and the International Monetary Fund.

"The end of the lat (currency peg) would create, if it happens, very serious difficulty and we want to avoid, at any price, this situation," he told news conference.

So, at a stage, where Latvians finally give up to commit themselves to repay loans, there will be gifts? I would be giving up immediately ... whatever the reason!