Skip to comments.Latvia becomes 18th country to join eurozone
Posted on 01/01/2014 2:23:08 AM PST by Berlin_Freeper
Latvia joined the eur zone today, banking on its experience of austerity to bring it prosperity in a currency union where other economies have floundered.
The Baltic country of just 2 million people became the blocs 18th member at midnight , taking a step further out of the shadow of neighbouring Russia a decade after joining the European Union and Nato.
Latvias acting prime minister, Valdis Dombrovskis, who led his country through its worst economic crisis since it left the former Soviet Union in the early 1990s, said euro adoption was an opportunity, but not a guarantee of wealth, and the country should not relax its fiscal policy.
Its not an excuse not to pursue a responsible fiscal and macroeconomic policy, he said after withdrawing the first euro banknote after midnight from a cash machine in Riga.
(Excerpt) Read more at irishtimes.com ...
Oh wait. Latvia. Not Latveria.
You don't often hear of rats (or lats) jumping on to a sinking ship, but maybe for a small country it makes sense to join the eurozone.