Viewed against the backdrop of a series of escalating crises in the Eurozone, it is remarkable that Latvia, now the 18th EU member state, finally adopted the euro as its common currency on 1 January 2014. In their paper the authors Klaus Schrader and Claus-Friedrich Laaser examine whether Latvia is ready for the euro. The experiences drawn from the so-called “euro-crisis” bring the following questions to the fore: Can the Latvian economy handle the euro? Is there cause for concern that Latvia’s entry will impose an additional strain on the Eurogroup? What is the business model of the new euro country Latvia?