Fireworks but no joy as Latvia joins eurozone

Mike Collier
Aence France-Presse
December 27, 2013

Fireworks will light up the skies above Riga when Latvia adopts the euro on January 1, but on the ground the feeling will be far from festive among those fearing the impact of the switch.

Polls show just a fifth of people in the austerity-weary nation favor the changeover while nearly 60% are opposed.

This can be explained by the fact that Latvians were asked to a take steep pay cuts as the government did not want to devalue the lat, which would have meant pushing back adopting the euro.

This article was posted: Friday, December 27, 2013 at 4:33 pm

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