Latvia to become 18th eurozone member from 2014 (BBC)

Latvia will become the 18th country to use the euro after being approved for membership by the European Commission.

In a report, the Commission confirmed that the Baltic state had met the criteria for joining the single currency.

Officials hope the news will show the eurozone is set to grow despite a three-year sovereign debt crisis.

Latvia is keen to strengthen ties with western Europe and reduce its dependency on Russia.

'Widespread enthusiasm'

The country will start using the currency at the beginning of 2014 after meeting the criteria for membership, including low inflation and long-term interest rates, as well as low public debt.
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more: http://www.bbc.co.uk/news/business-22781146