Revisiting the economic security of latvia and the other Baltic states

ENIn this article, I revisit the problem of economic security in the Baltic states from three different aspects. The first aspect refers to the resilience of the national economy to shocks – a nurtured policy response to the inherent problem of the vulnerability of small economies because of their external openness. This policy response, however, remains problematic in the Baltic countries. The second aspect relates to the need for pragmatic balance between the West and the East without compromising national sovereignty. Some progress has been achieved in this regard, but many challenges still lay ahead. Finally, the third aspect has to do with the EU’s role in the economic development of the Baltic countries. The anticipation of the EU being “leverage” in relations with Russia and a shelter from economic hardship have been only partially fulfilled. For the EU to deliver, a team-spirit and deeper solidarity between the core and peripheral EU member states needs to be developed.