Technically, I am on vacation, but I just can't help it when I see things like this...

It appears that the Governor Rimsevics told Reuters that “those who make such forecasts (devaluation is possible) lack education and knowledge.”

Meanwhile, Bloomberg reports that Kenneth Rogoff, a Harvard University professor and ex-chief economist of the IMF, said that “Latvia should devalue the lats to avoid a worsening of its economic crisis.” Nouriel Roubini (New York University) and Dennis Bengt (former Governor of theBank of Sweden), among many others, have a similar opinion.

Oops…