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It has been announced today that Latvia has formally applied to join the eurozone.

If all goes to plan and Latvia meet the Maastricht convergence criteria, they will replace their lat and adopt the Euro on the 1st of January 2014. They will become the 18th state to join the currency, joining neighbouring Estonia who joined back in 2011.

Given the recent ‘eurocrisis’, do you think Latvia joining this currency is a wise move?