It's 2014. Latvia is part of SEPA, EU, and euro zone. This implies decent regulatory oversight. The severe economic depression that hit Latvia in 2008/2009 for

It's 2014. Latvia is part of SEPA, EU, and euro zone. This implies decent regulatory oversight. The severe economic depression that hit Latvia in 2008/2009 forced the worst problems in the banking sector to the surface. In that way, the Latvian part of the EU banking system might be even more stable than that in other EU areas.