it buys the most profitable pieces of land in lanphier and builds hotels and supermarkets there. for us now is the best time to invest has been very profitable. poor but they also have what they call the gray economy so that that's not really for over an up on the statistics. off the land field join the european union in two thousand and four the economist started to warn of a new threat. they maintained that they were public might lose its economic sovereignty. about seventy percent of its farmland belongs to foreign investors the country's fiscal system depends on foreign banks. so when you put a good a scandinavian capital controls some seventy or eighty percent of the country's banking capital in damascus means it controls just as much of its financial system as it of what it clearly regrettably the nation has lost its ability to work manufacture things that used a lot when that field was on the point of leaving the soviet union it was one of its most advanced territories with zero debts this winter when gold today the picture is the oldest city. in january two thousand and n

according to europeans it's six lanphier is the poorest country in the european union today. as local nationalists look to blame russian speaking nonresidents people are leaving the country in large numbers in search of a better life. last year's population has shrunk on more than fifteen percent since independence according to latvia's foreign policy institute e.c.s. some twelve thousand people leave the country for good. the u.k. is their most popular destination. the british filmmaker cameron north described the problem in his documentary. with a laugh and some of the. firstly one of these is that economy not. a lot for that is much harder but good living partly because of nationalism i am mad about nash's and love them growing economy another reason is that they get very good social rights in the u.k. . it's now been twenty years since latvia jeev sovereignty. but still independence day it's no celebrated holiday and the freedom monument its main national icon aliens are hoffer of the country's population. in the.

when lanphier achieved independence the republic's government began closing down its industrial giants the new regime expected more than compact and mobile enterprises to replace the old sluggish and largely outdated soviet factories but they were never built in adequate numbers. yeah during the first five years of independence many enterprises were turned into scrap metal latvia's sold off cheap and lived off the money real estate and land were also soldiering this time which was a somewhat bigger source of funds during another five year period. i don't lines just before the country join the european union and avalanche of capital and low interest credit came here but they were not meant to develop production instead they were channeled into land in real estate as a result wind up in the situation. similar processes were going on in agriculture under the soviet government latvian collective farm supplied the republic with basic foodstuffs today half are imported. he is the illusions of from spain is a matters of from the middle and he is again these are from spain with the key canvas