Latvia's Serious Economic Struggle: Should we Care?

Former IMF economist Simon Johnson examines Latvia's recent serious financial troubles...and the EU's efforts to help it out in this blog from "Baseline Scenario."

He maintains that treatment of its current situation is a look at our common future...and a symptom of collective "wishful thinking."
http://baselinescenario.com/2009/06/05/latvia-should-you-care/

Meanwhile, Bloomberg reports that devaluation speculation may threaten Sweden's economy.
http://www.bloomberg.com/apps/news?pid=20601095&sid=a4ATR8cUmLSg&refer=east_europe

The NYTimes reports details of Latvia's current problem of selling short-term debt....forcing the IMF, World Bank and EU to come to its aid with billions.
http://www.nytimes.com/2009/06/05/business/global/05latvia.html?ref=todayspaper