Dear MEL School’s Topic Readers,
Latvia becomes
18th state to join the Eurozone.
How many of you
are familiar with this small ex-Soviet country that is sandwiched by its Baltic
neighbors Lithuania and Estonia? It has been independent only since 1990 when
they restored its independence from Soviet. This tiny country with just
two-million population has become the newest member of the second most traded
currency, Euro.
For the last two
weeks since the beginning of this year, both their own currency, Lat, has also been
circulated but today’s the last for Latvians to see their old coins and notes.
Some are in favor
of the move, expecting new investment from other countries to come in, but
others are worrying about inflation and or simply missing their pride currency.
The move also could mean the country’s more reliance on European countries and
economy in the future than Russia, which is the largest trade partner for the
country today.
Enjoy reading and
learning about a historic change for the Baltic nation.
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