Latvian experts say large crater was hoax, created by people, not meteorite

Latvian experts say meteorite crater was hoax

Latvian experts investigate whether large crater was caused by meteorite or a hoax

Latvian experts investigate large crater

RIGA, Latvia — Scientists were investigating Monday whether a large crater found in a meadow in northern Latvia had been created by meteorite. One expert said it was likely a hoax.

Object resembling meteorite falls in Latvia, leaving large crater; no radiation

Meteorite-like object falls in Latvia

RIGA, Latvia — A meteorite-like object crashed into a meadow in northern Latvia, creating a crater 27 feet (9 meters) wide and 9 feet (3 meters) deep, a geologist who visited the site said Monday.

IMF efforts to help E. Europe weather the recession run into political turbulence

LONDON — The International Monetary Fund is facing key political crunch points in its dealings across Eastern Europe even though it has done much to lose its previous reputation as an advocate of austerity.

Museums, tours in Germany, Czech Republic and elsewhere offer glimpses of life under communism

BERLIN — If you’re interested in the history of Eastern Europe under communism, a number of places around the region offer glimpses of life before the Berlin Wall fell. Here are a few of them, ranging from somber museums to historic sites to themed attractions that are downright kitschy or bizarre.

Latvia bans a top soccer club for rest of season; coach, GM cited for betting on team’s games

RIGA, Latvia — One of Latvia’s top soccer teams has been banned for the rest of the season because of gambling.

A look at economic developments and activity in major stock markets around the world

A look at economic developments and activity in major stock markets around the world Tuesday:

Across Eastern Europe, shopkeepers feel the pain of dramatic drop in consumer spending

RIGA, Latvia — When the Sky & More mall opened in Riga in 2007, retailers hoped its expensive boutiques and upscale supermarket would draw well-off Latvians on their way home to the pine-forested neighborhoods on the capital’s north side.

Lithuania faces possible debt downgrade from S&P a day after Latvia, Estonia were lowered

LONDON — Lithuania may see its credit rating downgraded to junk status by Standard & Poor’s after the agency warned Tuesday that rising economic and political risks are depressing the Baltic country’s tax revenues.

Latvia’s economic output plunges 19.6 pct in second quarter, sinks further into depression

RIGA, Latvia —Latvia’s economy shed nearly one-fifth of its value in the second quarter compared with the same period last year, official data showed Monday, signaling a deepening of the Baltic state’s recession.

As economy deteriorates, analysts say chances rise Lithuania will seek bailout loan

VILNIUS, Lithuania — Lithuania’s increasingly desperate economic situation may make it the next country in Eastern Europe to ask the International Monetary Fund for emergency loans.

Latvia receives euro1.2B from EU, optimistic about getting euro200M from IMF

RIGA, Latvia — Recession-plagued Latvia breathed a sigh of relief Monday after receiving a large bailout loan from the European Union and approving austerity measures that will pave the way for winning funds from the International Monetary Fund.

EU nations tell Poland, Hungary, Romania, Latvia and Lithuania to curb budget deficits

BRUSSELS — The European Union on Tuesday gave Poland, Hungary, Romania, Latvia and Lithuania two- and three-year deadlines to curb their budget deficits, which have been swollen by the world financial crisis and its fallout in Eastern Europe.

EU leaders say Latvia’s spending cuts are crucial for recovery as they ready bailout package

BRUSSELS — EU leaders told Latvia Friday that harsh spending cuts were “imperative” for its recovery from a sharp economic downturn and urged international lenders to quickly make available a bailout package.

Editorial Roundup: Excerpts From Recent Editorials in Newspapers in the US and Abroad.

Excerpts from recent editorials in newspapers in the United States and abroad:

Latvian premier says country has been rescued from bankruptcy

RIGA, Latvia — Latvia’s prime minister said Friday that the country has been saved from bankruptcy after last-minute budget cuts paved the way for the Baltic country to receive funds from international lenders.

Nervous neighbors brace for fallout from Latvian crisis

VILNIUS, Lithuania — As Latvia fights speculation about default and painful currency devaluation, its neighbors are nervous that the tiny Baltic country’s problems could spread well beyond its borders.

Watchdog: Swedish banks can handle turmoil in Baltics, including credit losses up to $19.3 bln

STOCKHOLM — The Swedish financial supervisory authority on Wednesday said the country’s four largest banks have enough capital to weather a severe financial collapse in the Baltics, including a devaluation of the Latvian currency.

Latvia to cut more expenses to win IMF funds while battling devaluation fears

RIGA, Latvia — Latvia’s government on Monday weighed more painful spending cuts to qualify for a desperately needed international bailout loan, while a ratings agency warned about a possible further downgrade for the troubled Baltic country.

Italy’s vote for EU Parliament a virtual referendum on scandal-plagued Berlusconi

ROME — Italians voted Saturday in European Parliament elections that have become a virtual barometer of Premier Silvio Berlusconi’s ability to weather a scandal over his attention to young women.

Italians vote for EU Parliament in election turned into referendum on scandal-plagued premier

ROME — Italian Premier Silvio Berlusconi has weathered corruption probes and public outrage at his tasteless quips — emerging each time with his popularity intact.

In search of savings, Latvia decides to abandon Soviet-era nuclear bomb shelters

LIGATNE, Latvia — One of the old bomb shelters is now a fish cannery. Another has just been turned into a high-tech data storage center. Yet another is a museum.

Latvia’s prime minister stresses currency stability, no intention to devalue

RIGA, Latvia — Latvia’s prime minister and central bank chief on Friday decried speculation the country will have to sharply devalue its currency and repeated their determination to keep the lat pegged to the euro.

Latvia faces jitters over possible sharp currency devaluation, Swedish banks seen at risk

RIGA, Latvia — Latvia’s central bank and prime minister on Thursday urged the Baltic nation’s leaders to watch what they say about the national currency as jitters spread about a possible devaluation that could hit other economies in the region.

Latvia’s central bank calls on leaders to watch words about troubled currency

RIGA, Latvia — Latvia’s central bank on Thursday urged the Baltic nation’s leaders to watch what they say about the national currency as jitters spread about a possible devaluation.

You again? Canada, Sweden set up semifinals matchup for 4th straight year at ice hockey worlds

BERN, Switzerland — Canada and Sweden will meet in the semifinals for a fourth straight year at the ice hockey world championship after both won tight matches on Thursday.

Russia rolls over Latvia, sending US into world hockey quarterfinals

BERN, Switzerland — Russia routed Latvia 6-1 on Sunday, sealing a spot for the United States in the world hockey quarterfinals.

Latvia, Czechs win big, close in on quarterfinals at ice hockey worlds; Russia-U.S. meet later

BERN, Switzerland — Latvia and the Czech Republic took big strides toward reaching the quarterfinals with dominating wins at the ice hockey world championship on Saturday.

United States beats Latvia 4-2 after twice trailing in World Championship opener

BERN, Switzerland — Jack Johnson scored two goals and the U.S. rallied twice for a 4-2 victory over Latvia in their opening World Championship match on Saturday.

A look at economic developments and activity in stock markets around the world Wednesday

A look at economic developments and activity in major stock markets around the world Friday: