estonia-euroIn his State of the Union speech earlier this month, the President of the European Commission, José Manuel Barroso, argued that the eurozone’s expansion to include Latvia in 2014 was a positive sign that progress has been made in tackling the economic crisis:

[Last year, some people] feared the disintegration of the euro area. Now, we can give a clear reply to those fears: no one has left or has been forced to leave the euro. This year, the European Union enlarged from 27 to 28 member states. Next year the euro area will grow from 17 to 18.

Indeed, despite repeated predictions of its imminent demise, the euro has proved doggedly resilient. Greece has clung on (though talks of a third bailout are currently ongoing), and Estonia joined on 1 January 2011, becoming the first former-Soviet republic to adopt the Single Currency. In last week’s Citizens’ Dialogue in Tallinn, the Commissioner for the Euro, Olli Rehn, gave his strongest statement yet that the European economy was finally headed in the right direction:

We have green shoots now in the European economy. They are still very green and very fragile. This year, we expect that the European economy will continue to stabilise and return to recovery. And, next year, the European economy will stand on firmer economic footing and we will have better economic growth next year, and we will see better return to employment next year…


But what do the citizens of Estonia think about the euro? Latvia, which will adopt the euro next year, will be keen to see if their neighbour’s experience with the new currency has been a positive one. Our infographic below presents some of the facts and figures about public opinion in Estonia before and after the introduction of the euro, but the data is rather inconclusive.

Broadly speaking, public opinion is more undecided now than it was before the euro was introduced. Whilst less Estonians feel negative about the euro today, a greater proportion of people now say they “don’t know” whether the euro has been good or bad for Estonia. Interestingly, though, half of people polled thought there was “not enough” economic coordination in the euro area, suggesting that Estonians would be happy to see greater economic integration.

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What do YOU think? Despite predictions that the euro would collapse, why has it actually been expanding? Were the critics wrong, or is the fall of the euro still to come? Let us know your thoughts and comments in the form below, and we’ll take them to policy-makers and experts for their reactions.

  1. avatar

    Are new countries in fact given a choice to join the Eurozone? I thought by joining now, they in principal agree to join the Euro at some point in the future when the economy is aligned?
    Also from a government perspective, sure looks nice to have the rest of the Eurozone (read Germany) guaranteeing (in all but name) any issued sovereign bonds. Better rates, better credit worthiness, no brainer. Should the Eurozone perhaps be more careful on who it lets in perhaps?

  2. avatar
    Pierre-Antoine Klethi

    As long as there is the political will for it, the euro will not collapse despite of all the arguments put forward by its critics. We have to improve the design of the eurozone, to better meet the economic requirements for a sound monetary union, but it is politically inconceivable to drop the euro, which is one of the main tangible symbols of European integration.

  3. avatar

    Well, I think the Europeans believe that eurozone is stabilisated (even looking at crisis in Greece) – there is a big role of Germany. But by the way it is sure, that eurozone makes buying, selling and so on easier. That’s what deserved for name “Integration”

  4. avatar
    Stephane Czajkowski

    A currency which does not serve the economy is not good. Let us go back to national currencies, and we can keep Euro for international business.

  5. avatar
    maria da penha verde

    We have to stick together as Europeans or we will perish together…CORRUPTION is the only enemy growth…It must be faced and eradicated…Otherwise we will be in trouble…Any funds lend/given to Southern + Eastern Europe + Irland have to be controlled and checked…The has actually become stronger than the US$ and that means that somewhere someone is investing in €….

  6. avatar
    Paul X

    Yes why are countries joining the Euro? it certainly isn’t the will of the people
    Latvia has a good recovering economy, 38% of Latvians don’t want to join the Euro and in local elections 60% voted for anti Euro parties
    Politicians who ride roughshod over the very people they should be serving need to learn some lessons from the past…

  7. avatar
    Christos Mouzeviris

    The euro won’t be allowed to collapse because the European leadership, notably Germany’s that benefits hugely, does not want to.. But as things are the euro is a zombie currency.. Surviving on austerity and the misery of the citizens that it was meant to make their lives easier.. Only with a true political, fiscal, economic and banking union the euro can survive.. But instead of that it has been placed in the ER and with it, the European citizens….

    • avatar
      Tarquin Farquhar

      NOT until the EU is updated and reformed to a less corrupt EU 2.0 – this could mean getting rid of the Club Med countries as they appear to be culturally challenged.

    • avatar
      Paul X

      “Yes the UK needs to get rid of the Pound and join the Euro straight away.”

      ROFL……did you say that with a straight face?

  8. avatar
    Cllr Nuala Nolan

    Because they never had a say in it in the first place and Governments are given all sort of monies to get them to join. Then Governments borrow to the hilt, then the citizens have to do the pay back….that is the reality! Most small countries who have joined the Euro are now in massive debt!

  9. avatar
    catherine benning

    All of them except Iceland are worthless as they will cost the European tax payer more than they can effectively offer. Iceland also has financial difficulties but they are well placed enough to get over their problems sensibly and become an asset.

    The real question here is, why on earth do we want them to join the EU, they are simply another dependent bunch who is looking for a leg up at our cost? And can we afford it? If yes, then how is that when we have nations already on starvation levels that we cannot accommodate?

    Let them set up a fund they provide the capital for so that if they fail in their obligations they can bail themselves out.

    • avatar
      Tarquin Farquhar

      @Catherine Benning
      Well said!

      It frightens me that so many of these mere city states each with populations smaller than London could eventually exercise power that could veto decisions of the UK with a population of 64 million and rising.

      As an example look at the way Bulgaria [the phrase ‘corrupt as flip’ or similar springs to mind] was able to stop the UK from instituting a minimum price per unit of alcohol because of the putative negative trade effects on Bulgarian wine [apparently good for fish and chips no less] – no consideration was given to the health of UK citizens!!

      It would not surprise me if many of the poor minor EU nations did the dirty-work of say France in the context of EU voting in exchange for say a factory being sited in said poor minor EU country. THIS HAS HAPPENED BEFORE and it is one of the reasons that the EU must do as bade by the UK else the UK will leave and ultimately the EU will fail – despite France’s typical vainglorious pretensions the EU has a small chance at best of success in the 21st century world BUT only if the UK is a member – without the UK, the EU WILL BE EFFED!!

  10. avatar
    Egon Witte

    Europe is a construct…I love the Idea..It needs blood, hope, free people to make it living… No expensive buerocrats… Chane now..

  11. avatar
    Nikos Z

    The EURO currency is supposed to be the one of the legs of a true union. Europe cant be considered united, unless financially and politically united. This dream will collapse soon if the policy doesnt change. EURO has a very serious disadvantage(compared to US dollar): it’s desinged to cope with crisis. We have to print money. Tight fiscal policy can only lead to disaster. Germany is steering to the WRONG direction. Lets be trully united. Lets all participate EQUALLY. Lets build a Europe driven by its people and not by the big banks and corporations.

  12. avatar
    Paul Galbally

    Reports of the Euro’s immanent death have been greatly exaggerated for, what? Twelve years now. Still you have got to hand it to the Mail and the Telegraph they are nothing if not persistent.

  13. avatar
    Miguel Cabrita

    It’s really quite a mistery. But let me answer with a question: Why, besides UK, countrys like Denmark or Sweden didn’t join the euro, and still don’t want to join??

  14. avatar
    Miguel Cabrita

    It?s really quite a mistery. But let me answer with a question: Why, besides UK, countrys like Denmark or Sweden didn?t join the euro, and still don?t want to join??

    • avatar

      Partially political I suspect but also those countries already have/had a good credit rating and wouldn’t benefit as much from joining the Euro as say Greece of Portugal have (in terms of bond market rates). The cost of joining would also have meant they would lose some of the tools to recover from a cyclical recession caused through debt, such as interest rates and QE.
      Bit off topic but if interested, there is a good graphic showing about recessions and tools to recover:
      The UK also probably would use this same argument that the benefits of the Euro don’t out way the loss of economic tools. It isn’t so bad of economies are aligned but that currently isn’t the case.
      In short, I suspect the economic arguments are the main reason to not joining the Euro (for the foreseeable future).

    • avatar
      Miguel Cabrita

      JJ, thats precisely the point.

    • avatar

      Hungary, Poland, Czech Republic do not want to join the Euro either. I am from Lituania and I am against € currency. Every country must have its own currency and its own culture. If you make United States of €urope, I will puke. €uro could only exist as currency for tourists when travelling to other EU countries, the tourists could exchange their local currency into an ugly faceless €uro and travel across the EU paying with it. So yes as supplementary currency €uro is fine, but as replacement currency it is undesirable. I want to see Escudos, Francs, Draxmai, Deutschemarks, Pesetas, Kroon, Korunas, Lire, Tolars again.

  15. avatar
    Jonathan Aaron Aureliano MacGiollachomhgaill

    “All Member States of the European Union, except Denmark and the United Kingdom, are required to adopt the euro and join the euro area. To do this they must meet certain conditions known as ‘convergence criteria’.” (From European Commission webpage)- All countries have to join the Euro once they meet the convergence criteria.

    • avatar

      Thanks, I thought that may be the case!

  16. avatar
    Paul X

    Lets face facts, If there was true democracy and the people in a country were allowed to decide if they want to surrender their national currency and adopt a common one, the majority would vote to adopt the Dollar
    Unfortunately the empire building, US hating EU bureaucrats would probably jump off the Eiffel Tower before agreeing to something so economically sensible as that

    • avatar
      catherine benning

      And for those of you who still feel the great saviour across the big pond is going to fly in to lift Europe from what began intentionally in that USA, to inflate the funds of their suffering billionaires, needs to stop kissing the rump it loves. Learn to love and kiss your own rump before you finish us all off. And the further Europe stays away from the financial shenanigans of the White House the better off we will all be.

      Jeeze, we would be better off adopting the Bitcoin than the US dollar.

  17. avatar
    Miguel Cabrita

    The ones who didn’t ask two questions. Quid bono? What can possibly go wrong with it?

  18. avatar
    Miguel Cabrita

    Some years ago, 1996 or 1997 I attended a conference in college, the speaker was an economist and former minister of something. He talked about the euro and the fact that Portugal was to be one of the first countrys joining the euro. Is speech was more of the same found in newspapers at that time, and repeated until nausea; How it would be great, that will only benefit the conutry and the usal poltical bla bla bla. In the end I had the oportunity to make some questions about the negative consequences to the countrys economy, and if they ever made a worst case scenario. The guy stumbled a bit and them the answer. – I don’t know, he said.

    Briliant, people playng with our country and our future and they don’t even bored asking on what can possibly go wrong. Time did the rest.

  19. avatar
    Paul X

    How did I guess you would answer Catherine..;-)

    It has nothing to do with kissing any spams rump, I can take or leave America but nobody can doubt the power of the Dollar

    All the-Euro fanatics say a common currency was essential for cross border business and a larger currency would be more stable and reliable, so instead of creating the monopoly money they did if they had joined the Dollar that would have more than satisfied these criteria wouldn’t it?
    Economics had nothing to do with the Euro it was all about Empire building and trying to create something big to compete on the world stage. The rampant dislike for all things American by certain EU countries has led to a lot of the current problems experienced by the people of Europe as they try to make their second rate currency work

    The logical solution to currency union was there all the time, I’m damn sure I know what I prefer to have in my wallet

    • avatar
      catherine benning

      Your vanity outdoes you, PX. I did not write my last post as a response to you. I don’t have you on my mind as you appear to have me on yours.

      However, that aside, you are definitely not European. Your sentences give you away. Plus, you are determined to sell Europe the failing financial work out of the spent dollar. All I can advise is, you hang on to it, you buy into it and you enjoy the ride it gives you. Because, clearly you have a problem with denial.

      But apart from that, let us Europeans make our own decisions on where we want to place our bets. And that won’t be on the yanks table with their flopped dollar. They are a finished force, on their knees to the world, begging mercy from the planets population as they await sentence. And I hope the world will be as lenient to them as they are to those they give ten lifetimes of privatized jail time for far lesser crimes than the destitution of the working people.

      And what should be considered.

      Then of course this man and his philosophy

    • avatar

      Sadly I think it’s naive to think that the US dollar won’t have an affect on the Euro regardless of how extremely socialist Europe becomes. Though not a supporter of the idea of either adopting the dollar (or pegging the Euro to it) for a multitude of reasons, being antagonistic to a nation which considers a fair few European countries allies (even if it’s for mutual self interest) isn’t of much value either.
      Nations are looking to join the USA, not a model to dissimilar to where the EU is heading (and it is a very successful model). Question is whether we believe countries joining the Euro could also benefit, and whether these countries are willing to sacrifice what is needed to achieve this success.

  20. avatar
    Nikos Z

    Adopting the us dollar would solve some problems by allowing a small inflation. The problem is that, europe would then depend on the Fed and their policies. Keynes had proposed a global currency and a global control over balance of trades. Our world would be different if his proposals had been adopted.

  21. avatar

    There’s a song lyric that perfectly captures the EU view on the Euro’s reality:

    Stars in your eyes, little one
    Where do you go to dream
    To a place, we all know
    The land of make believe

    So, according to Barroso, mass unemployment, plummeting median income, increased poverty and all that is part of a success story? My if this is success I sure wouldn’t like to imagine what they would see as failure.

    The question here is ‘why are new countries still joining the eurozone’?

    The answer is simple, none of the national politicians in those countries wants to endanger a change to snare one of those unelected non-income-tax-paying jobs in Brussels.

  22. avatar
    Pedro Inacio

    The problem is not the Euro, it’s the architecture of the Union and the ineptitude of our countries to face reality and reform.

  23. avatar
    Paul X


    Ok, whatever, you were obviously replying to the other person on this thread who mentioned adopting the dollar…rofl

    Jeezus, you really do have it bad against the US don’t you, and you said you lived there for a while…so what happened?

    • avatar
      catherine benning

      Wrong again! PX. My time there was glorious.

      However, I experienced incredible wealth, the kind the UK has little knowledge of. Except maybe Blair who obviously was willing to sell his country for a very small taste of it. Most of the world has no idea it exists or how it’s achieved. And I saw what this does to humanity. The more a man amasses the more closed to the human condition he becomes.

      I could write a tome.

  24. avatar

    Because a country like Latvia is not given too much of a choice. It doesn’t have the political weight of, say, the United Kingdom. Far from confirming the long term viability of the Euro, this just shows the inequalities of political and economical power between EU member states.

  25. avatar

    Here we go again with the Euro.
    can you people just stop with this.
    what about countries that have no problem with the Euro like the Austria Finland , or the newest members Estonia and I am sure Latvia will be in the best position with the Euro. Nobody talks how countries do well with the Euro. But bad stuff only , Greece and Spain have to accept its their own fault .

    • avatar
      Nikos Z

      Its a matter of time untill crises spreads all over Europe and all over the world. Austria and Finland produce, but Spain , Greece and Italy dont buy their products any more. Euro is not designed to cope with situations like this. Euro must change, or it will become soon a museum item. Germany, the super power of the Eurozone, is seriously considering of leaving euro. Rings a bell?

  26. avatar
    catherine benning

    Unless Europe is seriously ready to put this part of the planet to the forefront and return manufacturing and agricultural production to its multiple shores, along with a financial sector that works in favour of the people within it, then we are finished as a continental single entity. Which in reality, will be left to dwindle as a civilization.

    The German example should be followed as closely as possible, with a more socialist view toward the population as a whole, throughout the rest of the states. And yes, a federal Europe will be the answer. It has to centre on producing the highest most functional products. And leave the making of second rate goods to the rest of the world. It must also concentrate on selling to its own market and allow the rest of the world to trade amongst themselves. In the main keep the sights on what is wanted within our borders. Our food produced within Europe, with the rejection of poisons and additives not suitable for mankind kept at a distance.

    You all so love the USA, well, we can do it better as we have principles we live by. Yes, is does smack of isolationism. And? What is it you want for the European people? Globalisation cannot work in Europe’s favour or benefit, unless you are willing to see our standard of living meet that of third world expectation. You are leading us into a free for all of exploitation if you want to hang on to that scenario. Surely the signs are there for all to see. Is this the route you want to take? And if it is, you have to be up front with 500 million Europeans when you ask them to stay within this vision you have planned. Because, to pretend to us you have values and ideas that will increase our standard of living and our social and cultural expectations, you have no right to claim we are a free people within a democracy. Additionally, if you are afraid to tell us what your plans are, then it can only be because you know we will not go along with it. In other words, you are fraudulently taking over the running of us as a European people with the intention of turning us into something we have little or no experience of. And you will be doing this whilst taking our money the way a confidence trickster does.

    You have a duty to lift up and fly right, so get to it.

  27. avatar

    I believe that countries especially from the East strive to join the Eurozone only to get some kind of insurance against financial trouble. They count on Germany, France and the UK to help them. And that is the main problem of EU. We must make them realize that this will not happen. Let’s take Ukraine for example. It is very vocal in its attempts to sign the associated agreement. Well, why does it make every conceivable effort to join the EU? I tell you, because its economy is well on the brink of abyss! That is the main reason. But why do we need the burden like that? Isn’t Greece and Italy enough? In fact if we particularly consider Ukraine we have to take into account that the regime there is very impudent. It has no respect for human rights, bans free Media, encourages corruption and crime, it even imprisoned ex-prime minister!
    So the Lithuanian position seems rather adequate to me against this background. They demand that first Ukraine has to release Julia Timoshenko and only then there’ll be any kinda consideration of associated agreement. That’s it! That’s how we should behave towards candidate-countries.

    • avatar
      Paul X

      From your description of the Ukrainian regime I would say they are ideal candidates for a career in Brussels….;-)

    • avatar
      João Frazão

      Well, the big problem about Europe is, no more no less, people like you. “They count on Germany, France and the UK to help them” is very representative of what I say. Actually, discard the UK off the list because is not merely close to the political or economic thematics of the UE and, specially, the eurozone. Secondly, France? Seriously? The country that specialists esteem to be the next one entering in crisis?! At least if you wanna keep that belly-centric observation, make it right with countries such as Finland, Austria or the Netherlands. Thirdly, Europe is not only about economic reasons – Europe way more than an economic union or even political. It means progress, solidarity, democracy. Not that oh so tired feeling of taking care of those southern burdens. The problem about UE is not poorer countries like Ukraine wanting to be added up or like Greece with the internal crisis. The major problem is about people such as you that, insteand of looking at Ukraine as a new potential market and solidarity ring, see it as a piece of crap trying to get under the skirts of some of the G10 elements.

  28. avatar

    Its a political move from EU. Eastern european countries are no benefit financially to Western countries. The reason why more are joining is just to get as many countries within Germanys influence as possible and away from Russian influence. The problem is that EU says its democratic and on the other hand doesnt urge the countries joining to hold refendums on it. They are trying to take Ukraine but they dont understand that without referendum Ukraine will be in chaos. 45 % are Russian! I bealive if UK leaves then the others will leave as well. EU would work as some kind of trade union, but as a political union it wont last long, becouse to many different countries live together. in US its not the case, they have same lenguage, same culture and same interests. In EU you have south where family is first and state second and then you have north where state is first and family secound, totally different values.. It cannot work and politicians must accept referendums where they say NO about something. You cannot ignore it for long time.

  29. avatar
    Basil Awartani

    Such countries probably expect some sort of insurance against financial trouble. I.e Ukraine.

  30. avatar
    Gediminas Bau Glumanas

    Basil, there are some true in your words, but there are no financial trouble in Baltic countries and we need stable euro for our business. It’s true that we have some “economical terroristic” countries in our neighborhood who are cutting our growth, but I think everything will be OK. Who works good, always wins. :))

  31. avatar
    Joseph Krukowski

    Actually Latvian lats (LVL) was more valuable currency than euro (EUR). Currency exchange rate: 1 LVL = 1,42 EUR . 70% of people were against euro, but our politicians stopped initiative of active citizens to make referendum before joining eurozone, because they were too scared of defeat. Without any doubts, majority would wote against euro. Neither majority of companies, nor consumers supported joining eurozone.

  32. avatar
    Poyi Liu

    I share the same thoughts as Basil. Each country has its own expectations of what can safeguard it from further financial difficulties. For countries like Latvia, adopting the Single Currency is their answer.

  33. avatar
    Joseph Krukowski

    In fact this decision will cost 40 000 000 EUR extra to our small country with just 2.1 million citizens. The only hope is that euro currency will attract more global investors to Latvia.

  34. avatar
    Dorothea Karaburjidou

    I am sure there will be benefits too joining euro with trading!! I am not sure about the industry in the country if any interesting products??? ;)

  35. avatar
    Nico Hajrahmatollahi

    I agree to the political aspect, Jovan Ivosevic already mentioned. The euro is more than a common currency, especially for the baltic States. There are still troubles causing the euro crisis, but I still believe like Latvia did it Two days ago, that there is great wish to live together without no borders and hate, but with solidarity and common values. In the end, the euro should be the currency of all member states of the EU. Its economic character has to be combined with a political union. For me, the euro is part of the greatest peace project and therefore it is a duty for us to save him and to create trust to them again. Thanks again for this debate, @debatingeurope

  36. avatar
    Jude De Froissard

    it is more a politico-psychological matter than economics and logic…i hope they won’t regret it one day.

  37. avatar
    Carlos Manrique Pérez

    The thing is i agree with the ? and the EU, but I do not want it to become an state, I want just the EU to be a cooperation organization between countries, anyone agrees?

  38. avatar
    Christos Mouzeviris

    A political decision indeed.. Being at the heart of the European project or Europe is an agenda that many EU countries, especially the newest members want to adopt… For some it is good for business to show to companies that they are fully integrated in Europe, for others it is a prestige, that helps them attract investments.. As for who saved the euro and why it is still alive we all know that answer… The ordinary European households and the European middle class saved it, to benefit the banks and the upper business class!!! That is why the euro still exists, apart of course from being a symbol of European integration..

  39. avatar
    Panagiotis Kontogiannis

    Misleading question. All EU countries (besides those which opted out) are obliged to introduce the Euro ASAP. Even those who opted out will be sooner than later forced to adopt it.
    The Euro has short term tears and long term huge benefits (and will survive).

  40. avatar
    Janis Piternieks

    Well, i think that it’s great that our country (Latvia) has joined the EU, offcourse now alot of people have left our country to search better life in other countrys in EU, and so on maybe it’s not that good for Latvian goverment, but it’s good for people, and i hope that in future human kind will evolve so much that everyone will speak some main languages for instants: spanish, english, russian, german, french perhaps, so that europian union is really united because everyone understands everyone else. For example i can communicate in 4 different languages and i dont think that i am more then anyone else or less then others, i know english, russian, norwegian and my own language which is latvian, and i am age of 25, so i feel that for the united future and globalization its a small step for big goal, which is to unite the world as a single piece that everyone is everything, it’s free energy, so we could trade and not pay for road expences, so the prices go down, if we could travel without travel expences we could live in places were its cheap to buy a place for your own. so it’s just a begining and i hope that we will evolve also Ukraine later in future, but first of all we should throw away our greed.

  41. avatar
    João De Lalanda Frazão

    Putting aside all the crisis we are currently debating, and comparing the eurozone to other economic areas, we’ll see that the european standards (even compared to the USA) are way better. For me, the biggest problem of the monetary union was, undoubtly, the lack of political union. An eurozone without fiscal and political integration is one of the major shifts of Brussels, given the fact that it only increases the disparity between the southern weak economies and the north central stable ones. Plus, it is good to keep in mind the consequeces of leaving the euro currency – it’s somewhat of an irreversible project. Once you did it, you have to keep the ballz to carry it on.

  42. avatar
    João Frazão

    The great deal with the EU is the fact that it doesn’t think united. Each country sees itself as a fragmented piece of the whole, who’s competing with all the other pieces. It’s economically stupid and, in federal terms, self destructive. In an economic block, if the majority of the production isn’t block-oriented, of course there will be crisis, which is a repetitive cycle – the crisis strenghts the nationalist and anti-foreigner feelings, which by themselves are toxic to the well being of the union. I say, stand up europeans. Each day we get closer from the United States of Europe. Not because of the collective feeling of inclusion or romantic visionary projects. No, it’s because it is a reality we have to face in – if we want to keep the social standards, to compete with giants such as US or China, to mantain the ‘Europe’ as the coeur of the world and to save the eurozone of crisis, we need to unite and make Europe the first real multicultural federalist association.

    • avatar
      Stavros Papademetriou

      Exactly!!! Only with unity we can move forward!!! Now with the introduction of the banking union i hope economically we will have a more stabilized economy and maybe in the future more countries will join the euro, the currency will become stronger and stronger. We need stronger monetary and fiscal policy.
      Many Europeans around Europe can not see the big picture, they only see the trees, NOT the forest!!! Its not just China and USA, we have many emerging powers on planet coming up, India? Brazil? Euroasian Union? WE need to be UNITED to remain the biggest economy on planet earth, and become even stronger!!!
      From a proud European

  43. avatar
    Kamil Ozsoy

    Expansion is not the opposite of collapsion. It can expand and then collapse. Besides, this is a very insignificant expansion and one can argue whether it was a wise decision for Latvia (or vice versa) to begin with. Not saying or hoping that Euro will collapse, just find the logic absurd.

  44. avatar
    Alex Tselentis

    Over half of Lativia want nothing to do with the “Euro” .. Just another attempt at creating another Amerika .. Same bankers same concept, US is on brink of collapse, 70 trillion dollars .. EU is in simalr state, maybe it was all hijacked by big banks, looks more like another soviet union.

  45. avatar
    Ricardo Costa Silva

    Why are new countries still joining the eurozone maybe because Euro is a good idea, the wrong in eurozone is not the euro itself but the policies around it.

  46. avatar
    James Stevens

    Well it’s Christmas, so I suppose the Turkey’s have voted for Christmas, the Euro allows only Germany to prosper at the expense of all the other member states, not only is the Euro doomed, but so is the EU. In the future we can all look forward to democracy and not the EUSSR.

  47. avatar
    David Fuzzey

    60% of Latvians were against joinong the micky mouse euro. Another triumph for the oh so democratic eu

  48. avatar
    James Stevens

    Who funds ‘Debating Europe’ anyway? the poor old EU taxpayer? Is it some misguided attempt to make the EU appear democratic…lol! …talk about achieving the impossible. Or is it just some feel good factor for all the bent Socialists/Quasi Communists that run the EU to stay in touch with the people? Like the EU it’s just a load of crap with no substance.

  49. avatar
    David Fuzzey

    [quote]Panagiotis Kontogiannis Misleading question. All EU countries (besides those which opted out) are obliged to introduce the Euro ASAP. Even those who opted out will be sooner than later forced to adopt it[quote]. …..forced to adopt your euro?…i would really like to see you lot try!!!!!!!.

  50. avatar
    Luis Santos

    Some more poor people brought to EU to be explored until get near to bankrupt and then get more miserable than today.

  51. avatar
    Carlos Ataide

    They join the euro because they have afraid of russian. And the people was against. Political decision

  52. avatar
    Con Rad

    Joseph Krukowski – did you have referendum on joining EU ? I bet you did. So why would you need referendum of euro anyway? The fact that your currency was on positive exchange – doesn’t change much in business world does it? Except the fact that Latvia from now on do not need this mass of beaurocrats working on exchange rates..

  53. avatar
    Con Rad

    Joseph Krukowski – did you have referendum on joining EU ? I bet you did. So why would you need referendum of euro anyway? The fact that your currency was on positive exchange – doesn’t change much in business world does it? Except the fact that Latvia from now on do not need this mass of beaurocrats working on exchange rates..

  54. avatar
    Con Rad

    I like James UPRICK Stevens comments – SIEG HEIL! It means – Hi. :D

  55. avatar
    Con Rad

    I like James UPRICK Stevens comments – SIEG HEIL! It means – Hi. :D

  56. avatar
    Margarida Reis

    This currency is killing those little but wonderful countries like Portugal… they are making an experience and there are a lot of countries that are dying with this. :(

  57. avatar
    Rudi Spoljarec

    If the Union is union , all the members should have the same currency . Otherwise , countries could leave the union , if their people find out it’s not worth it to stay . Referendum is the way to vote yes or no , for each and everyone .

  58. avatar
    Constantinos Constantinou

    this is not the whole truth though…..

    i bet that if you ask the european citizens to vote whether their country should exit the euro you would get a very different picture….

    the euro is not the same everywhere and this is a fact since the 18 March 2013 and the devastating decision for a “bail-in” (a polite word for a cold blooded bank robbery) on cyprus banks…

    cypriot euro is not the same as the rest…. in cyprus it still has a max daily limit of 300euro per day…..

    cyprus people would want to exit eurozone yesterday, if and only if this was made possible by the dark economic/political circles that run the eu, eurozone, ecb, eurogroup……

    eu is no longer a union for its people…..

    eu is transforming itself into a dark and scary political agreement between the 2-3 stronger leaders (does this sound like ex-soviet union??) who do not feel the need to ask the people for their opinion….

    pity for the people who lost their lives but none is listening….. nobody cares….. as long as the strong becomes stronger…….

    the eu is not moving towards brighter days….on the contrary…..

  59. avatar
    Paulus T. Galba

    Because it works, despite all the negative publicity thrown at it by the US/UK right wing press.

  60. avatar
    Borislav Sotirov

    We have distinct financial systems. Euro is on the stage we have to unite our financial governments or not use it any more.

  61. avatar

    Hungary, Poland, Czech Republic do not want to join the Euro either. I am from Lituania and I am against € currency. Every country must have its own currency and its own culture. If you make United States of €urope, I will puke. €uro could only exist as currency for tourists when travelling to other EU countries, the tourists could exchange their local currency into an ugly faceless €uro and travel across the EU paying with it. So yes as supplementary currency €uro is fine, but as replacement currency it is undesirable. I want to see Escudos, Francs, Draxmai, Deutschemarks, Pesetas, Kroon, Korunas, Lire, Tolars again.

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