Posts tagged as money

Annual distribution of funds to political parties

Tuesday, September 28, 2021

The entry of the Reform Party into office has brought into focus its stance on the annual distribution of funds to political parties, dubbed ‘protection money’, ahead of the state budget vote. Reform has long criticized the practice, though now it is in office, some opposition MPs say it has tempered its stance, now it can influence the distribution of funds more than when in opposition. Most parties partake in…

Poisonous mushroom of Latvia makes money abroad

Tuesday, September 7, 2021

While many take to chanterelle harvest and sales in autumn, the latest hit is selling one of the most poisonous mushrooms in Latvia – the fly agaric (Amanita muscaria), Latvian Television reported September 6. There is no shortage of mushrooms to eat in Latvian forests. Yet there are people who march proudly past all the edible mushrooms to come to a lush cluster of red fly agarics, which are only…

Lithuanian politicians take the last money from the population

By Vairis Godmanis on Wednesday, June 30, 2021

In the updated draft budget for 2021, the Lithuanian Cabinet of Ministers is proposed to significantly increase funding for the defense sector. The revised project involves an increase of 53.5 million euros. Thus, the new document focuses on the protection of the state border and the country’s financial obligations to NATO. It is proposed to increase military spending to 2.03% of GDP and allocate an additional 20.7 million euros to…

Millions of dollars flying over the Baltic States to threaten Russia

By Adomas Abromaitis on Tuesday, March 9, 2021

The Baltic States desperately try to show their disagreement with neighbouring countries’ policy. The authorities demonstrate their full despair to cope with Russia’s and Belarus’ political intention to follow their own economic and political path. This fact even makes the Balts angry and annoying. There are several causes of it. Unfortunately, having escaped from the Soviet Union, they immediately fell into dependence on the EU and NATO’s policy. The more…

‘Protection money’ bill to go to vote unamended

Monday, December 7, 2020

No change has been made to the list of entries due so-called ‘protection money’ ahead of this year’s full state budget. The Riigikogu’s finance committee passed the list unamended on Monday, for voting same day. The scheme allows political parties to assign sums of money in proportion to their representation, to projects of their choosing, usually of a social, sporting, religious and particularly regional nature. As such it is seen…

Swedbank ex-CEO: We did not knowingly launder money

Friday, November 6, 2020

Former Swedbank Baltic CEO Priit Perens told daily Eesti Päevaleht (EPL) in an interview that he and his colleagues never consciously laundered money, and that the heads of Estonian banks did not foresee changes in regulations and society. “… Expectations of banks have changed so much. As Erkki Raasuke (current Luminor CEO – ed.) once said, we all will, as bank heads, make punishable mistakes sooner or later. We can…

Former Bank of Estonia governor on fiscal policy: There are no free lunches

Friday, October 23, 2020

The state budget relies too heavily on borrowed money and the planned deficit is too large which will cost Estonia sometime in the future, said Ardo Hansson, former governor of the Bank of Estonia, on ETV politics talk show “Esimene stuudio”. Any estimations for the future must assume that next year will be better than the current one and that the virus will not cause further closures, Hansson said. The…

Third of Lithuanians feels anxious about money, survey shows

Thursday, October 15, 2020

Thirty-nine percent of Lithuanians feel anxiety about their financial situation every day, a survey has found. The anxiety adversely affects relations with family members, health and productivity at work, they said. One in six respondents reported feeling no anxiety about their financial situation and 7 percent said they were fully satisfied with their finances, according to the survey commissioned by the Institute of Finance at Swedbank Lithuania. “A mere 7…

Lithuania ‘cooperating’ with Denmark in Danske Bank money laundering investigation

Friday, September 25, 2020

Lithuania’s central bank says it is cooperating with Danish law enforcement in investigation into potential money laundering at Danske Bank’s operations in the country. “We are closely watching all information related to the possible participation of financial institutions in Lithunia in money laundering” and are “cooperating with the Danish colleagues”, the central bank told BNS. As part of FinCEN banking leaks, the International Consortium of Investigative Journalists (ICIJ) has revealed…

Lithuanian hospitals on Covid-19 frontline get €50m injection of EU money

Thursday, August 27, 2020

The Lithuanian government has allocated over 50 million euros in EU funds for the country’s major hospitals and other healthcare institutions on the frontline of dealing with the Covid-19 pandemic. The decrees signed by Health Minister Aurelijus Veryga allow the hospitals to use the money to purchase new equipment, such as lung ventilators, functional beds, X-ray machines and other medical instruments and protective equipment, or reimburse them for earlier acquisitions.…