Latvia will probably succeed in its plan to adopt the euro in 2014 and Lithuania will make the switch the following year, according to Fitch Ratings.
The recovery of Estonia, Latvia and Lithuania from recession in 2008-2009 was a “remarkable success story,” Fitch said today in a report. The three nations’ open economies, high levels of external debt and elevated ratio of bank lending to deposits make them “inherently volatile,” the ratings company said.
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