Sorry, IF your idea is success is NOT getting back up to pre crisis levels using 'austerity', where the US economy dumped 9%+ of GDP the last quarter of 2008, and got back quite fast, I don't see your point? lol
Thanks for the ad homs BTW
I had the wrong link on one
Even if the Baltics were not on a convergence path, they would still be expected to grow faster than their EU neighbours, simply because they were so badly hit by the financial crisis, far worse even than Ireland.
Ireland, Lithuania, Estonia, and Latvia suffered peak-to-trough falls in GDP of 10.1%, 14.8%, 17.4% and 20.7% respectively. The further they fall, the faster they climb because there is so much more slack in their economies, and because they have lost so much of their potential GDP. In part, the Baltics are making up for lost growth as they regain the convergence path
There is a school of thought that argues that beatings should continue until morale improves