ASSESSMENTS
Latvia: Effects of a Failed Bond Auction
Jun 4, 2009 | 18:05 GMT

MARKKU ULANDER/AFP/Getty Images
Summary
Speculation that the Latvian government could no longer support its peg to the euro caused investors to shun bond auctions on June 3 and 4, which foreshadows a more serious European-wide problem, with budget deficits ballooning across the Continent. And for countries like Latvia, it may be time for another round of lending by the International Monetary Fund.
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