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Lithuania: new government doomed to deal with inheritedfinancial troubles
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Vagnorius, Gediminas
1999
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Lithuania: new government doomed to deal with inheritedfinancial troubles
in
Vagnorius, Gediminas
1999
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Lithuania: new government doomed to deal with inheritedfinancial troubles
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Lithuania: new government doomed to deal with inheritedfinancial troubles
1999
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Overview
The new cabinet of Prime Minister Andrius Kubilius does nothave a great deal of choice: it can pursue a ruthless austerityregime or the state will have to default on its debt repayment,according to Rimvydas Valatka, a columnist of the `LietuvosRytas' newspaper. Valatka's views were broadcast on Lithuanianradio on 17th November. Valatka noted that it would be a gravemistake to try and continue the policy of spending, which waspursued by the former prime minister, Gediminas Vagnorius, whonow is trying to bank on sweet memories of the times when thecountry was financing its illusionary well-being by borrowingmoney. Today's troubles simply mean that the payback time hascome, Valatka said. The following is text of Valatka'sappearance on the radio:
Publisher
BBC Worldwide Limited
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