Latvia Joins the Euro

Latvia Joins the Euro.

Mixed opinions have been heard across Latvia after it became the 18^th EU State and adopting the Euro over its own currency. The once Soviet republic has come out of the financial crisis fighting, becoming the EU’s fastest growing economy.

As people start getting used to having the Euro as a currency opinions are expressed across the country with a poll showing almost 60% of people in Latvia not wanting the new currency. Latvia’s government welcomed the new currency with hope of improvements to the country’s credit rating and stability.

Those sceptical about the new currency showed concerns of a rise in prices following the introduction of the Euro. However there is hope for business owners as the Euro is more attractive to foreign investors as well as decreasing the dependency on Russia.