At the extraordinary EU Council of 21 July European leaders have to accomplish a triple-mission. First, they should … pave the way to restoring solvency in Greece by initiating debt reduction. Softening the Greek debt burden implies i … financed through unused EU structural funds and EIB loans (€16bn). The available funds shall be used to i) raise the quality of …

. In Latvia’s trade with “old” EU countries,the Ricardian model and the Heckscher-Ohlin theorem can be corroborated. After … 2000, however,share of EU-15 countries in Latvia’s exports steadily declines. Instead, share of regional (Baltic …