Grieķi visādā veidā protestēja pret budžeta samazināšanu. Foto: AFP/LETA
According to an article in LETA today, 27 October 2011 ("Klementjevs: Grieķijas parādu samazināšana pierāda ES pastāvošu dubultmorāli"), parliamentarian Andrejs Klementjevs of Harmony Center (SC) argues that it displays double standards that a debt reduction has been agreed for Greece but not for Latvia.
Hereby Mr. Klementjevs seriously misunderstands what has been agreed. Furthermore, he does not seem to appreciate the huge difference between Greece and Latvia.
Mr. Klementjevs is conflating the issues, seemingly oblivious to the fact of which type of debt has been reduced.
Latvia's international lenders, mainly the IMF and EU, have NOT seen the value of their loans to Greece reduced. Reduction of Greek debt (the oft-mentioned "haircuts") comes solely from private bondholders, mainly commercial banks in France and Germany.
