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Economy / Latvia

Yet Another Scandal?

September 2007 | Risk Summary

Latvia is once again in the grips of a financial scandal. Parliamentary speaker and former prime minister Indulis Emsis is in the spot light after reporting to police the theft of a briefcase from a government building that was subsequently found to contain a large amount of US dollars. Emsis, who is a senior member of the Union of Greens and Farmers (ZZS), one of four parties in the governing coalition, says he has done nothing wrong and is prepared to resign from parliament to prevent any damage to Latvia's international reputation. We believe that the affair is likely to

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