Einars Repše During this period, he oversaw the introduction of the Latvian rublis, Latvia's temporary transition currency, and the Lats, independent Latvia's new currency. Under Repše, the Bank of Latvia pursued a tight monetary policy, implementing a de facto currency board for the Lats. As a result, the exchange rate of the lat has been stable since the early 1990s till now. The success of the Lats made Repše very popular in Latvia. In 2001, Repše resigned from the Bank of Latvia to return to politics. He founded the New Era Party, a Populist anti-corruption party. After the 2002 elections, Repše became
Baltic Offensive in-depth defense by the 1st Baltic Front, and by 20 August the German advance had stalled with heavy losses. A follow-on attack, code-named Operation Cäsar, and launched on 16 September, failed in the same manner. After a brief period of respite, STAVKA issued orders for the Baltic Strategic Offensive, which lasted from 14 September-24 November. In common with other Soviet strategic offensives, the Baltic Offensive covers a number of operational level operations and individual Front offensive operations: From the German defensive perspective, the period included the following operations: The Baltic Offensive operation resulted in the expulsion of German forces from