As a result, there are very few assets and markets for speculative capital flows in Baltic countries. Partially, this reflects sound fundamentals, but mostly it is an unintended consequence of policy decisions. Unfortunately, I don’t know how easily these Baltic experiences can be repeated in other countries. Let me continue with fiscal policy and by discussing another interesting example.
I hope that my report can help develop that understanding further and help us all emerge from our current difficulties with a degree of restored confidence.