Latvia did not rely on sainted austerity for its recovery. Its economy is still fragile. Its banking sector is a mess waiting to happen. It cannot cut off foreign investment, and yet it must.
This is a dangerous gamble. Poor but thriving Estonia may not be thriving much longer, and may not have enough to help rich but struggling Greece.
Presumably if the government gave out more free money, economically productive people would stick around?
The Eurozone continues to go from bad to worse. Greece may be on its way out. Spain wants a bank bail-out. Buried amongst this depressing cascade of impending catastrophe is some good news. The Baltic States have demonstrated the art of economic reform.