, Columnist
The ECB's Latvia Containment Dome Is Fully Operational
Central bank measures to prevent contagion from Latvia's banking troubles are kicking in nicely.
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The speed with which the European Central Bank's systemic controls have contained a major anti-graft crackdown in Latvia is impressive. Slam, bang and the nation's third-largest bank is ring-fenced and along with it the country's financial system. The rest of the euro-area can purr along unaffected.
For evidence of this, look no further than the fact that former program nation Spain announced a 30-year syndicated bond issue on Monday.