For the Baltic state of Latvia, the boom times are over.
Unemployment stands at nearly 14% and the Latvian economy contracted by 28.7% in the first quarter of the year compared to output in the previous quarter.
Now this country, on the north-eastern edge of Europe, is in deep economic trouble - the deepest in the European Union.
The BBC's Jonny Dymond, is touring the European Union ahead of next month's elections to the European parliament and has sent this report from Latvia.
First broadcast 21 May 2009