Swedes and Danes offer €500m swap to Latvia

The Danish and Swedish central banks offered swap lines worth half a billion euros to Latvia's central bank on Tuesday.

Under the terms of the facility, the Bank of Latvia can borrow up to €500m, of which the Riksbank will supply €375m, in exchange for lats.

"It is important that central banks cooperate and assist each other in times of financial crisis," said the governor of the Riksbank, Stefan Ingves.

"There is also a risk that a financial crisis in Latvia could spread and create unease on the

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