Euro Lure Outweighs Latvian Soviet Trauma, Berzins Says
This article is for subscribers only.
Latvia opted for euro adoption next year over public opposition rooted in the trauma of the Soviet Union’s breakup because of the benefits to the country’s businesses, President Andris Berzins said.
Most Latvians oppose the currency switch because of their experience with the collapse of the Soviet financial system in the early 1990s, Berzins said in an interview in New York yesterday. Economic growth is driven by exports, which will be helped by adopting Europe’s common currency, he said.