Latvia joins the eurozone
Latvia officially adopted the euro currency on 1st January 2014, becoming the 18th eurozone country. This was despite a majority (52%) of its people opposing membership, with only 45% in support. Two years previously, many had wondered if the euro would survive. During 2013, however, the currency actually rose 4.5 percent against the dollar, finishing the year at 1.38 to the dollar. An assessment published in June 2013 asserted that Latvia had met all the convergence criteria necessary for euro adoption, which was given final approval by the Economic and Financial Affairs Council the following month.*
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