Britain?s busy debating its place in Europe, but instead of leaving the European Union it might be the perfect time to actually adopt the euro instead.
While the focus in the UK is on ditching our EU membership, one country has just decided now is the time to step up integration instead.
Latvia, the Baltic state, this week agreed to ditch its Lats in favour of the euro. It will become the 18th member of the currency bloc on January 1st 2014.
While there will be a huge amount of debate about why Latvia is stupid to join the euro at this stage ? and the country?s population is far from convinced - we thought we?d look at whether or not the UK should follow Latvia?s lead and jump aboard the eurozone ship
Could Britain reap the same benefits?
Of course, if the UK joined the eurozone; it would not be the poster child of anything. Firstly, our austerity efforts so far have been meagre at best. Public spending is still unsustainable and our economy is still too reliant on the financial service sector.
The export market revolution has yet to happen, which is hampering our economic turnaround. Perhaps this is where the UK could take a lesson from Latvia.
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http://uk.finance.yahoo.com/news/why-now%E2%80%99s-the-time-to-join-the-euro-170907882.html
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