Complete defeat: how the Soviet Union carried out the nationalization in the Baltic States

22 July 1940 the people's Saeima adopted a decision on nationalization of the land, major industries, banks and commercial enterprises. The next day for the Declaration of similar content voted by the parliaments of Lithuania and Estonia. It was argued that banks and industry are transferred to the workers. According to modern historians the Baltic, Sovietization led to serious consequences for the economies of the three republics.