Posted by: youngragingbull | June 5, 2013

Latvia becomes 18th country to join Eurozone

The European Commission on Wednesday gave final approval for Latvia to adopt the euro in 2014, making the Baltic nation the 18th country to join the Eurozone.

Latvia voted in 2003 to join the European Union, which meant it would also adopt the euro when the requirements to join the currency union were met.

The commission said in a statement that Latvia has achieved “a high degree of sustainable economic convergence with the euro area” and that it has showed that a country can overcome macroeconomic imbalances.

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