2008 Latvian financial crisis

You can help expand this article with text translated from the corresponding article in Latvian. (February 2013) Click [show] for important translation instructions. View a machine-translated version of the Latvian article. Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Wikipedia. Do not translate text that appears unreliable or low-quality. If possible, verify the text with references provided in the foreign-language article. You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation. A model attribution edit summary is Content in this edit is translated from the existing Latvian Wikipedia article at [[:lv:Latvijas finanšu un pārvaldes krīze (2008—2010)]]; see its history for attribution. You may also add the template {{Translated|lv|Latvijas finanšu un pārvaldes krīze (2008—2010)}} to the talk page. For more guidance, see Wikipedia:Translation.

The 2008 Latvian financial crisis, which stemmed from the global financial crisis of 2008–2009, was a major economic and political crisis in Latvia. The crisis was generated when an easy credit market burst, resulting in an unemployment crisis, along with the bankruptcy of many companies. Since 2010, economic activity has recovered and Latvia's economic growth rate was the fastest among the EU member states in the first three quarters of 2012.^[1]