This will cause much more panic in Eastern Europe...
Nice PPT save - VHF
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Latvian PM quits as crisis bites
BBC
17:29 GMT, Friday, 20 February 2009
Latvian Prime Minister Ivars Godmanis and his centre-right government have resigned, amid turmoil triggered by economic crisis in the Baltic state.
President Valdis Zatlers has accepted the resignations and is beginning talks to try to form a new administration.
The country's economy is in recession and is set to contract by up to 12% in 2009, with unemployment rising by 50%.
Latvia's is the second European government, after Iceland, to fall as a direct result of global economic woes.