ECB representative emphasizes role of reduced salaries in overcoming crisis in Latvia

The Baltic States have recovered from the crisis very quickly and the flexibility of salaries was an important factor in overcoming the crisis, European Central Bank Directorate General Economics Deputy Director General Hans-Joachim Klockers pointed out during the "Economic Adjustment under Sovereign Debt Crisis: Can Experience of the Baltics be Applied to Others?" conference organized the by the Bank of Latvia today.... Read more...