BLOOMBERG/ Latvia's central bank chief Ilmars Rimsevics believes that Greece must make budget cuts similar to those employed by Latvia and Lithuania to weather the current economic crisis. “The Greek situation is similar to Latvia’s in that there is no other choice but to downsize expenditures,” said Rimsevics. "We are very pleased that Latvia is more and more mentioned as a template because a year ago people were thinking we are going to fail. Today, things are more or less out of the woods.”
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