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Lithuania in despair with economic problems

Phantom

Phantom

John Schnatter 2012
Joined
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[ame="http://www.youtube.com/watch?v=qkaJR42RlPI"]YouTube- Lithuania in deep despair as EU cash crisis mars 20th anni of country's independence[/ame]

As Lithuania has marked its 20th anniversary of independence, the celebrations were marred by the country's grim economic situation. The first country to leave the USSR is having to cope with the deepest recession in decades.
Click to expand...
 
Source is not exactly unbiased..

But other than that, Lithuania is in economic problems, along with all the Baltic states because they used lending to promote most of their economic growth since leaving the USSR. Add to that their use of a Flat Tax system, and they have serious problems even financing the basics.

But the reality is that Lithuania is a very very very small economy and any bail-out or help would cost next to nothing relatively speaking.
 
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