These folks are a little confused and are jumping the gun in their assessment of Latvian success. Success requires more patience and arbitrarily labeling the finish line early is unfair. And the idea that banks benefit from austerity more than they do from bailouts is shaky in the least.
Even so, even when couched in tongue-in-cheek delivery there is a kernel of truth. Success and growth only comes from pain and Latvia's choice to avoid the burden of Keynesian debt is already reaping health and growth.