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European Journal

Latvia: The euro is coming

On the tenth anniversary of its accession to the EU, Latvia will be introducing the euro. That will further strengthen the country’s ties to Europe - but not everyone in Latvia is in favor of that.

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Many in Latvia fear the introduction of the euro will cause prices to go up, as already happened in Estonia. In the city of Karosta, which once served as a base for the Soviet Baltic fleet, the largely Russian-speaking population is wary of closer ties to the west. But Latvians who have business ties to the EU are eager to welcome the new currency.