The economy of Estonia is an advanced economy and the country is a member of the European Union and the eurozone. Estonia's economy is heavily influenced by developments in the Finnish and Swedish economies.
Latvia, officially the Republic of Latvia, is a country in the Baltic region of Northern Europe. It is one of the three Baltic states, along with Estonia to the north and Lithuania to the south. It borders Russia to the east, Belarus to the southeast, and shares a maritime border with Sweden to the west. Latvia covers an area of 64,589 km2 (24,938 sq mi), with a population of 1.9 million. The country has a temperate seasonal climate. Its capital and largest city is Riga. Latvians belong to the ethnolinguistic group of the Balts and speak Latvian, one of the only two surviving Baltic languages. Russians are the most prominent minority in the country, at almost a quarter of the population.
The politics of Latvia takes place in a framework of a parliamentary representative democratic republic, whereby the Prime Minister is the head of government, and of a multi-party system. The President holds a primarily ceremonial role as Head of State. Executive power is exercised by the government. Legislative power is vested in both the government and parliament, the Saeima. The Judiciary is independent of the executive and the legislature. The Economist Intelligence Unit rated Latvia a "flawed democracy" in 2022.
The economy of Latvia is an open economy in Europe and is part of the European Single Market. Latvia is a member of the World Trade Organization (WTO) since 1999, a member of the European Union since 2004, a member of the Eurozone since 2014 and a member of the OECD since 2016. Latvia is ranked the 14th in the world by the Ease of Doing Business Index prepared by the World Bank Group. According to the Human Development Report 2011, Latvia belongs to the group of very high human development countries. Due to its geographical location, transit services are highly developed, along with timber and wood processing, agriculture and food products, and manufacturing of machinery and electronic devices.
In economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result.
The December 2001 crisis, sometimes known as the Argentinazo, was a period of civil unrest and rioting in Argentina, which took place during December 2001, with the most violent incidents taking place on 19 and 20 December in the capital, Buenos Aires, Rosario and other large cities around the country. It was preceded by a popular revolt against the Argentine government, rallying behind the motto "All of them must go!", which caused the resignation of then-president Fernando de la Rúa, giving way to a period of political instability during which five government officials performed the duties of the Argentine presidency. This period of instability occurred during the larger period of crisis known as the Argentine great depression, an economic, political, and social crisis that lasted from 1998 until 2002.
Baltic Tiger is a term used to refer to any of the three Baltic states of Estonia, Latvia, and Lithuania during their periods of economic boom, which started after the year 2000 and continued until 2006–2007. The term is modeled on Four Asian Tigers, Tatra Tiger, and Celtic Tiger, which were used to describe the economic boom periods in East Asia, Slovakia, and Ireland, respectively.
Roberts Zīle is a Latvian economist and politician and Vice President of the European Parliament for the National Alliance, a free market national conservative political party in Latvia. In the seventh term of the European Parliament, he works in the European Conservatives and Reformists group; he is a member of European Conservatives and Reformists Group Executive and a member of the group Bureau. He was formerly vice-president of the now defunct Union for a Europe of Nations group.
Ivars Godmanis is a Latvian politician who served as the Prime Minister of Latvia from 1990 to 1993 and again from 2007 to 2009. He was the first Prime Minister of Latvia after the country restored its independence from the Soviet Union.
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1983. It is widely considered to have been the most severe recession since World War II.
The economy of Lithuania is the largest economy among the three Baltic states. Lithuania is a member of the European Union and belongs to the group of very high human development countries and is a member of the WTO and OECD.
The Great Recession was a period of marked general decline observed in national economies globally, i.e. a recession, that occurred in the late 2000s. The scale and timing of the recession varied from country to country. At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations.
The 2008 Latvian financial crisis, which stemmed from the global financial crisis of 2008–2009, was a major economic and political crisis in Latvia. The crisis was generated when an easy credit market burst, resulting in an unemployment crisis, along with the bankruptcy of many companies. Since 2010, economic activity has recovered and Latvia's economic growth rate was the fastest among the EU member states in the first three quarters of 2012.
This is a list of crises situations and major protests in countries of Europe since the year 2000.
The Baltic states' housing bubble was an economic bubble involving major cities in Estonia, Latvia and Lithuania. The three Baltic countries had enjoyed a relatively strong economic growth between 2000 and 2006, and the real estate sectors had performed well since 2000. In fact, in between 2005Q1 and 2007Q1, the official house price index for Estonia, Latvia and Lithuania recorded a sharp jump of 104.6%, 134.3% and 106.7%. By comparison, the official house price index for Euro Area increased by 11.8% for a similar time period.
The Progressives is a social-democratic political party in Latvia. The party was founded on 25 February 2017. Since 4 September 2021 its leaders have been Antoņina Ņenaševa and Atis Švinka. The Progressives have 11 seats on Riga City Council and 10 seats in the Saeima but do not hold any seats in the European Parliament.
Youth unemployment in Greece focuses on the 15–24 years old age group. Greece has the highest youth unemployment rate in the European Union as of May 2019 with a rate of 40.4% of youths between 15-24 unemployed. This is far higher than the EU youth unemployment rate of 14.3% in 2019. The Greek youth unemployment rate is also the second highest among OECD nations only being surpassed by South Africa. The youth unemployment rate in Greece worsened in the period after the 2008 financial crisis hitting a peak of 58.2% in 2013. While youth unemployment is high in Greece it is far more than the adult unemployment rate in Greece which is only 17.6% as of June 2019.
The Lost Decade or the Crisis of the 80s was a period of economic stagnation in Peru throughout the 1980s which was exacerbated to a severe macroeconomic crisis by the end of the decade. Foreign debt accumulation throughout Latin America, a series of natural disasters, mass public expenditures, nationalizations of banks and financial institutions, and the shutting of Peru out of international credit markets led to a decade of macroeconomic decline. The financial crisis soon became adopted into the public sphere through hyperinflation in commodities, food shortages, and mass unemployment. By the end of the decade, Peru's gross domestic product (GDP) contracted over 20%, and poverty rose to 55%.
The 2011–2012 Tunisia protests was a series of increasingly violent street demonstrations characterised by popular unrest and civil riots against economic grievances and deteriorating conditions in Tunisia. Inequality and unemployment has also been a trigger of nationwide civil disorder and massive disobedience. The fresh protests first began as a wave of national peaceful protests on 14–21 January against the government and demanded a civilian government and fresh elections to be held immediately. Instead, the interim government has led the 2011 Tunisian presidential election. But the protests adapted to different towns and regions, and mass demonstrations re-erupted nationwide. In 2012, massive labour strikes and anti-government riots have been ongoing, with police brutality becoming violent and more extreme. Women strikes and hunger strikes had been held nationwide in August–September. University students also led national student protests in protest at economic conditions. Nationwide protests against the government and Police brutality led by youths had been held in Tunis, Sousse and Gafsa and poor neighbourhoods in cities nationwide in November–December. 8 were killed in the mass uprising and political movement. Insurrectional demonstrations continued and ultimately led to the 2013–2014 Tunisian political crisis.
