International Internet Magazine. Baltic States news & analyticsFriday, 12.03.2010, 05:28
Adoption of the euro will require that Estonia changes more than half of its laws
11.03.2010In connection with the adoption of the euro, 236 out of 418 laws currently in effect in Estonia will have to be changed, noted Prime Minister Andrus Ansip at the Government press conference, writes LETA/Postimees Online.
Keyword tags: Estonia, EU – Baltic States, Financial Services, Legislation
Latvia receives EUR 500 mln loan from European Commission
11.03.2010Today, Latvia received the third part of its loan from the European Commission – EUR 500 million, LETA was informed by the European Commission's mission in Latvia.
Government's most important task accomplished in Latvia – state insolvency averted
11.03.2010The government's most important task has been accomplished – state insolvency has been averted in Latvia, the most difficult point of the economic crisis has been overcome, and stability has been achieved in the financial and economic systems, a necessary factor for future efforts for raising of state competitiveness and the renewal of the economy.
Snoras to boost loans in Lithuania as Scandinavian banks tighten credit
11.03.2010Lithuania's fifth biggest bank by assets Snoras Bankas wants to increase its loan portfolio in 2010 as rival Scandinavian subsidiaries tighten credit. "We are trying to benefit from the situation when the Scandinavian banks are not as active," Snoras Deputy Chairman Naglis Stancikas said in an interview today in Vilnius.
Estonian PM Ansip recognised Latvian government for their structural reforms
11.03.2010During the meeting with Latvian Minister of Foreign Affairs Maris Riekstins on Wednesday, Estonia's Prime Minister Andrus Ansip stated that the Latvian government has done a very good job in implementing structural reforms, writes LETA/Postimees Online.
Bigbank expanded its management board to 5 members
The supervisory board of Bigbank decided to expand the composition of the bank’s management board to five members, writes LETA/Postimees Online. The bank appointed FCO of Bigbank Group Ruslan Mahhov as the newest member of the management board.
Lithuania and Slovenia united by shared history, similar aspirations and common interests
President of the Republic of Lithuania Dalia Grybauskaite has received the President of Slovenia, Danilo Tuerk, who came to Vilnius on an official visit. This is the first official visit by President Danilo Tuerk to Lithuania, the reported BC presidential press service.
Seimas Speaker Degutiene interested in financial policy of Swedish banks
On Wednesday, Seimas Speaker Irena Degutiene received Speaker of Sweden's Parliament Per Westerberg. During the meeting, Degutiene was interested in the financial policies of the Swedish capital in the Baltic States.
In February external assets and liabilities of the Bank of Lithuania increased by 2.8 bln litas
In February 2010, external assets and external liabilities of the Bank of Lithuania increased by 2.8 billion litas (810.61 million euros) and 358.2 million litas (103.7 million euros) respectively, the country's central bank reports. Both indicators amounted to 19.3 billion litas (5.58 billion euros) and 436 million litas (126.224 million euros) respectively at the end of the month.
Parex banka paid LVL 54 mln to state in interest payments in November-February
Between November 2008 and February 2010, Parex banka paid more than LVL 54 million to the state in interest payments on the support provided to prevent its insolvency. The State Treasury received more than LVL 49 million on its deposits, while the Privatization Agency received LVL 5 million for subordinated capital deposits, the business portal Nozare.lv was informed by Parex Corporate Communications Director Inga Saleniece.
Fitch changed SEB Bank's and DnB NORD Bankas rating to stable
International ratings agency Fitch Ratings changed SEB Bank's long-term issuer's default rating outlook from negative to stable whereas SEB Bank's long-term issuer's default rating A, short-term issuer's default rating F1, individual rating D/E and support rating 1 remained unchanged. Fitch also revised the outlook for a bank DnB NORD Bankas, operating in Lithuania, to stable from negative.
Latvia’s PM: successful sale of Parex will improve state macroeconomic indicators
The acquisition and support for Parex banka has seriously affected the state's budget situation, and the successful sale of the bank would significantly improve state macroeconomic indicators, said Prime Minister Valdis Dombrovskis in his annual report to the Saeima on the government's achievements over the previous year.
Dombrovskis: international loan gives Latvia opportunity to plan its development for several years ahead
Unlike many other countries, which are not certain whether they will be able to find extra financial resources, the loan from the international lenders gives Latvia the opportunity to plan its development for several years ahead, as Prime Minister Valdis Dombrovskis (New Era) said in his annual report to Saeima on the job done by the Cabinet of Ministers and its future plans.
Reinoldijus Sarkinas: Greece should copy Baltic adjustment, avoid aid
Lithuania's Central Bank governor Reinoldijus Sarkinas said Greece should avoid seeking international aid and follow the example of the Baltic nation, which suffered the European Union's second-deepest recession last year without a bailout.
Less than 10% of tax debts in Estonia have been restructured in March
By the beginning of March 2010, individuals in Estonia owe the State a total of 6.24 billion kroons in taxes, writes LETA/Postimees Online.
Closer cooperation model for the Baltics and the EU 
