Publication: Monitor Volume: 1 Issue: 29

The failure of the Baltija Bank in Riga continues to echo. The new governor of the bank warned the population not to deposit any funds in his bank lest they be subject to confiscation if the bank is declared insolvent, BNS reported June 8. Meanwhile, in Estonia, the government said that many of the country’s banks would have to merge in order to survive. And Kommersant-Daily reported June 8 that a Russian bank involved with the Baltija scandal now owned enough shares in Latvia’s energy company to give it effective control of Latvia’s largest energy concern, Latenergo.

Finland to Pay for Repatriation of Russian Officers in Estonia.