Saturday, January 02, 2010

Rimsevics: Failing to bail out Parex banka would result in closing down of four banks in Latvia :: The Baltic Course | Baltic States news & analytics

Rimsevics: Failing to bail out Parex banka would result in closing down of four banks in Latvia :: The Baltic Course | Baltic States news & analytics:
"Closing down of Parex banka (Parex) would trigger fast withdrawing of funds from other banks, the President of the Bank of Latvia Ilmars Rimsevics points out in an interview with the magazine Klubs. Closing of Parex would also obligate the state to immediately pay out around LVL 660 million to depositors from the state guarantees fund."

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