5 lats coin and freedom. The coin was designed by Rihards Zariņš. The image of the maiden on the coin is colloquially known as Milda (a Latvian female name). The model was Zelma Brauere (1900-1977), a proofreader of the State Securities Printing House. She served as a model for other works of the artist, including the 10 lats and 20 lats banknotes and the 50 santīmi coin. In 1939, the Latvian government prepared to mint new 5 lats coins to be issued in 1941. The Latvian maiden was to be replaced by a portrait of the authoritarian leader of Latvia, Kārlis Ulmanis. Those
Baltic states housing bubble to housing bubble in the Baltic states. Another direct outcome from the "cheap" credit abroad guided the banks to engage in imprudent lending supported by its parent banks. As the interest rate has been free-falling in the Baltic states, the real interest rate on deposit has been dwindling. Throughout the housing bubble period in the Baltic states, the deposit to loans ratio continued to widened – far higher than the entire Euro Area. For that reason, banks in the Baltic states have to borrow abroad heavily denominated in Euros before passing the currency risk to potential customers. As such move