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I believe what Peace is referring to is that the Latin alphabet has several specific letters for consonants which in English would be diphthongs. This is very good for keeping the phoneme to grapheme ratio close to 1:1 (as it is for Finish).
Though Serbian is very unusual in that it can use either the Cyrillic or Latin alphabets.
Quite amazing actually!
I seem to recall that the average age is rather low too... could be wrong. But hopefully that is good for cultural change.