Analytics, Economics, EU – Baltic States, Financial Services, Forum, Latvia

Ilmars Rimsevics.

In the current situation, ''less is more'', as it is not possible to save a country's economy by printing more money, Rimsevics said, urging larger countries to learn from Latvia's austerity experience, writes LETA.

The faster such measures are implemented, the sooner the results, which means that there is more support for further reforms, the head of the Bank of Latvia said, pointing out that Greece's problem, for example, is the fact that the reform process has been delayed much too long.

Speaking about the situation in the euro-zone, Rimsevics said that it is going through some tough times at the moment, however, he believes that the euro-zone is once again becoming stronger each day. According to Rimsevics, the possible collapse of the euro-zone is just something made up by journalists.