LV, would you care to elaborate on your comment? I personally do not gain or lose whether Latvia devalues or not.

My opinions are based on previous experience, having lived through a very similar situation in my own country. Everything went straight to hell until the markets forced our central bank to float the currency. After that, the economy woke up from coma.

You don't yet know what it is, when the economy stops. If you did, you too might speak for devaluation. The only difference between your situation and ours is that we had less loans in foreign currency and exported more. You should export too, but an overvalued currency makes it twice as hard.

why not stop spreading bullshit, interestingly what businesses will be gained from devaluation?

In 2003, I chose to have a book I was going to publish printed in Riga, as opposed to having it printed in France. Why ? Simply because the prices were decent (printers in countries such as France, the UK, Italy, are just thieves, not to mention that the quality of their products is often most questionable) and because, from the samples I had seen from that printer, the quality was very good. And, indeed, the book turned out to be up to my criteria. In Estonia too, there are fine printers, people who are not just businessmen, but who make a point of delivering good quality products. Besides, transport, from Riga to Paris, was relatively cheap

Last year, I asked a quotation to the same printer : prices were still fair, reasonable. Then, I asked a quotation to the same Latvian transport company I had used in 2003. What a shock, when I received it : it was three/four times higher than the previous one. I asked a quotation to other Latvian transport companies : it was just as expensive, if not more. As a result, there was unfortunately no way I could make a deal with that printer from Riga.

From acquaintances of mine who have business connecions in Latvia, I know that prices have skyrocketed over the past three or four years in some economic sectors in this country. Obviously, some people over there bit off more than they could chew. Greediness, once again, isn't it ?

By 'some people', I mean : local companies either linked to international ones (such as transport companies) or foreign-owned.