Latvia and the Euro

The news that Latvia could join the EU common currency has stood out in the media in the middle of a sea of quotidian baleful headlines portending the breakup of the Euro.

Whether that news will bring something positive to the ex-soviet country, only time will tell, should their citizens plump for saying good bye to their dear Latvian lats.

Various and sundry opinions are found among Latvian citizens. On the one hand, some hold a deep yearning to join the currency and extol not only the economic boons that it would entail, but also the improvement in security on the world stage. On the other hand, others pose an immense allegiance to their currency by arguing that inflation would be the least eldritch consequence that might come.

Latvia lived seamy financing circumstances back in 2008 and 2009, and it was partially thanks to an EU injection that the economic countenance ponderously improved until depicting the healthy situation that they can boast of these days.

A profound appraisal of the current picture shows not only wholesome figures that match with the EU goals so as to be invited to join the euro club, but a quick gentrification throughout the main cities. Such achievements would help slake the governmental ambitions that were set up a few years ago, and that today, however, could be seen truncated by an internal saturnine opposition.

Looking at what had recently happened to a few euro countries could spread the feeling that becoming a euro member might involve the likelihood of suffering parlous finances in the short-term future. Nonetheless, having untangled a so vitiated plight at a record time may help people believe that it is possible to see the light at the end of the tunnel through austerity measures and appropriate governance under EU supervision.

Gnawed and inedible shibboleths are likely to be found along with spurious arguments, both in favour and against joining the EU currency. Latvian citizens have given proof that they were able to dodge the worst recent slump walking hand in hand with the EU. They will reach a sage choice whatever they decide.