Lativa's euro bid approved by EU finance ministers

2013-07-09 60

EU finance ministers have officially given Latvia the nod to become the 18th member of the eurozone.

The country was hit hard by the economic downturn of 2008, which wiped almost a fifth off its GDP.

But a series of tough reforms has turned its economy around. Last year, Latvia posted a growth rate of 5.6 percent.

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