Yeah funny how you say the Baltic states are doing so bad yet PIIGS is doing far far worse:
PIIGS unemployment:
Yeah, there was a massive drop in GDP in the baltics when austerity began but you cannot make an omelet without breaking a few eggs, there will be a downturn but its nothing more than bitter medicine, you swallow it, take the hit but you will recover. The fact that the baltics are now on their way up again (as opposed to the others) is a testament that real austerity is a success.