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Edition: U.S. Article Comments (0) Email Print Reprints Read Microsoft hopes to bury iPhone, Android 02 Oct 2010 U.S. warns of possible attacks in Europe 10:14am EDT UPDATE 6-China's Wen offers to buy Greek debt 02 Oct 2010 China's Wen supports stable euro ahead of EU summit 9:35am EDT Syria's Assad rebuffs Washington by courting Iran 02 Oct 2010 Shared U.S. warns of possible attacks in Europe 10:14am EDT Microsoft hopes to bury iPhone, Android 02 Oct 2010 UPDATE 6-China's Wen offers to buy Greek debt 02 Oct 2010 China's Wen supports stable euro ahead of EU summit 9:35am EDT Analysis: Austerity drives Romania firms to low-tax Bulgaria 01 Oct 2010 Watched Pictures of the month Thu, Sep 30 2010 Red faces over top model gaff Tue, Sep 28 2010 Prints reveal NY’s wild 70’s period Thu, Sep 30 2010 Report Title Price Swedbank AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis. Provider: Reuters Investment Profile $20.0 Buy NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. Latvia PM wins election Tweet This Share on LinkedIn Share on Facebook Factbox FACTBOX-Latvian Prime Minister Valdis Dombrovskis Sat, Oct 2 2010 Related News Latvia PM wins election, to hold coalition talks Sat, Oct 2 2010 UPDATE 4-Latvia PM set to win election after crisis Sat, Oct 2 2010 Latvian govt coalition to win majority -exit polls Sat, Oct 2 2010 CORRECTED-UPDATE 1-IMF programme, euro plans at stake in Latvia Sat, Oct 2 2010 Analysis & Opinion An ironic twist in fiscal policy Is there a Plan B for the government? Related Topics World » Stocks Latvia's Prime Minister Valdis Dombrovskis smiles as he waits for results during general elections in Riga October 2, 2010. Credit: Reuters/Ints Kalnins By Aija Braslina and Patrick Lannin RIGA | Sun Oct 3, 2010 9:31am EDT RIGA (Reuters) - Prime Minister Valdis Dombrovskis agreed with coalition partners Sunday to work on forming a majority government after an election win which kept Latvia on the path of IMF-led austerity aimed at eventual euro zone entry. Latvian media quoted the election commission as saying after the Saturday vote that Dombrovskis's Unity bloc won 33 seats while his two coalition partners got a combined 30 seats. This gave 63 seats in the 100-seat parliament for a government previously in a minority. "We discussed the possibilities for further cooperation and we are ready to continue work," Dombrovskis told reporters after meeting the Union of Greens and Farmers, which won 22 seats. He said the aim should be to hold a parliament vote on government approval on November 2. "We also agreed that Latvia's economic stabilization program and agreement with lenders must be further implemented," he added. He later met the third coalition partner, the nationalist Everything For Latvia/For Fatherland and Freedom bloc, which won 8 seats, and also agreed to work further with them. The vote was a triumph for Dombrovskis, who has already steered Latvia through harsh budget cuts and tax rises to meet the terms of a 7.5 billion euro ($10.24 billion) bailout agreed with the International Monetary Fund (IMF) and the EU. More austerity awaits the nation of 2.2 million people to reduce the budget deficit on the path to euro entry, which under the IMF and EU deal is targeted for 2014. Dombrovskis also said he would meet the opposition Russian minority party Harmony Center, which had been hoping to win the election but came in second place with 29 seats, to see if there was any way the government could cooperate with it. CRISIS MANAGER Despite the budget cuts, Latvians have regarded Dombrovskis as an honest crisis manager of the mess left by other governments. The economy has also begun to show a slow recovery from the 18 percent economic drop of 2009, the worst in the European Union. People have also accepted the budget measures, which have included public sector pay cuts of 50 percent, with forbearance. The only public display of anger was a riot in Riga in January 2009, before Dombrovskis took power. Harmony Center, which has Latvia's large Russian minority as its traditional base of support, had been hoping to woo ethnic Latvians to vote for it after the crisis. 1 2 Next World Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. 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