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Critics also point out that an exodus of many young Latvians to find work abroad has flattered the unemployment figure.
That warning was very much in keeping with the country’s austere economic policy of recent years.
Latvia suffered the most extreme economic bust of any country in the world during the global financial crisis of five years ago.
Latvia’s accession has shown that one of Europe’s most dynamic economies still regards the eurozone as a club worth joining.
Recently a colleague returned from a trip to Latvia and remarked on how beautiful the women were.
The country is projected by the IMF to have expanded by a further 4 per cent last year, faster than any other country in the European Union and taking Latvia back to its 2007 GDP peak.
The current account swung from a 22 per cent deficit to virtual balance.“It’s a big opportunity for Latvia’s economic development” Mr Dombrovskis said, speaking at a ceremony on New Year’s eve in Riga, at which he symbolically pulled a euro note out of a cash machine.Mr Dombrovskis added a note of caution, warning Latvians that euro membership was “not an excuse not to pursue a responsible fiscal and macroeconomic policy”.The IMF’s chief economist, Olivier Blanchard, says he has been pleasantly surprised by Latvia’s performance, but maintains that he is not convinced the government’s front-loaded fiscal squeeze was either necessary or helpful to the economy.Nevertheless, it is striking that Latvia’s growth rate in 2014 is forecast to be four times higher than of the rest of the eurozone which it joins this week.Many countries experiencing a crash on that scale devalue their currencies in order to boost exports and maintain unemployment – and indeed that was what the IMF recommended.Tags: Adult Dating, affair dating, sex dating