Latvia: Eager for the Euro. But ready?

People ♦ Published: March 4, 2013; 19:03 ♦ (Vindobona)

Latvia’s leadership considers adopting the Euro in 2015 or 2016. Despite of showing the fastest economic growth rate at 5.1 % in Europe, there is scepticism Latvian population.

Latvia: Eager for the Euro. But ready? / Picture: ©

After joining the EU in 2004, Latvia attached its currency to the Euro. To join the Eurozone, Latvia needed to ask for a valuation of its preparedness to switch currency by the European Commission and the European Central Bank. On Monday, the cabinet of ministers conducted this.

"This is a day that will enter Latvia's history," is how Finance Minister Andris Vilks expressed his…