However bad a spiralling money laundering scandal has been to the three Baltic countries, it could get even worse. Financial regulators in Estonia and Latvia told the Financial Times they were afraid Swedish banks — which dominate both headlines on money laundering and their banking systems — could withdraw from the region, just as Danske Bank and Nordea have already done amid dirty money allegations, the Financial Times reported. “Sure, we are very worried,” said Peters Putnins, head of the Latvian regulator.
Rigas Satiksma municipal public transport company may face insolvency in March without new EUR 37 million subsidies, said Rigas Satiksme acting CEO Anrijs Matiss in an interview with Ir magazine, referred LETA. The city’s budget has not yet been adopted, therefore municipal companies receive one 12th of last year’s basic budget monthly, and in the case of Rigas Satiksme it is EUR 8.35 mln, which is about EUR 100 mln a year, The Baltic Course reported.