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The Economic Crisis in Ireland, Iceland and Latvia - Part 1

Ireland, Iceland and Latvia have encountered momentous economic problems in recent years. The three countries have requested help from the international community to solve urgent liquidity problems and get their economies back on track. This article compares the economic development ahead of the outbreak of the crisis and highlights similarities and differences in the countries' handling of the crisis. Moreover, the article discusses the experience that the countries have gained from developments before and during the crisis.