Latvia still faces unemployment following the entry of Euro

By IVC Staff Reporter

Nov 02, 2013 05:33 AM EDT

On January 1, Latvia had adopted the Euro, which would hopefully encourage lower costs for borrowing and investments. However, two months after the Euro had entered Latvia, officials from Latvia and Estonia were still having trouble over linking separate sewerage systems, lighting and water.

Even Valka deputy major, Viesturs Zarins, remained unimpressed by the entry of the Euro.

"I'm not that optimistic. The main issue is unemployment. I don't see that the Euro will solve this issue," Zarin stated.

According to a report by Reuters, unemployment in Zarin falls to around 12%. In fact, unemployment in both Estonia and Latvia are roughly alike. Estonia is known to attract more of the residents of Latvia because of rock concerts and better hospitals.

A 23-year old mother of two, Laura Cera said, "It's our own currency, different from other countries, more beautiful. Jobs? I don't think it will change."

Reuters concluded that although Latvia may have adopted the Euro, problems with emigration and unemployment remain.

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