This might be one for you structured finance specialists – how do you structure a deal to sell your soul? In Latvia, the EU nation worst hit by economic crisis, apparently you can. Well it’s not quite selling your soul exactly, more providing your soul as collateral for a loan. Unemployment is soaring and banks have sharply reduced lending, meaning that small companies offering easy loans in small amounts have become more popular even if its one’s soul on the line. Kontora loan company, whose public face is Viktor Mirosiichenko, 34, offers a loan agreement that purports to do exactly that.

Clients have to sign a contract, with the words "Agreement" in bold letters at the top. The client agrees to the collateral, "that is, my immortal soul."

According to Reuters Mirosiichenko said his company was basically trusting people to repay the small amounts they borrowed, which has so far been up to 250 lats ($500) for between 1 and 90 days at a hefty interest rate. He said about 200 people had taken out loans over the two months the business was in operation.

Mirosiichenko said his company would not employ debt collectors to get its money back if people refused to repay, and promised no physical violence. Signatories only have to give their first name and do not show any documents.

"If they don’t give it back, what can you do? They won’t have a soul, that’s all," he told Reuters in a basement office, with one desk, a computer and three chairs.