Binge then bust

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Latvia's auditor-general, Inguna Sudraba, doesn’t mince her words: “This wasn’t some advanced financial instrument. It was an attempt to treat everyone else as though they don’t understand reality.”

Sudraba is talking about a 567 million lati ($1.086 billion) financing arranged for Riga by Deutsche Bank in June 2005, so the city could build the Southern Bridge that today spans the Daugava River. The Latvian government had declined to let Riga borrow that kind of money, but the city refused to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]