Latvia gets go-ahead to join troubled euro

The European Union’s executive arm has given tiny Latvia the go-ahead to become the 18th country to join the troubled euro currency union next year.

By The Newsroom

Published 5th Jun 2013, 17:51 BST

EU officials say Latvia’s desire to join is a vote of confidence in the shared currency and disproves predictions that the eurozone might break up.

The current 17-country group has struggled since 2009 with too much government debt, compounded by a slack economy.

The European Commission gave the thumbs up yesterday after a required review. A final decision will be made by eurozone finance ministers on July 9.

To join, Latvia had to show it could control inflation, deficits and debt. Still, many Latvians are sceptical and anti-euro parties did well in elections last weekend.

European Union