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Der Standard - Austria | Thursday, June 6, 2013

Reward for drastic cure

The stringent economic measures that Latvia undertook to overcome the crisis impressed the European Commission above all because of their symbolic power, the left-liberal daily Der Standard comments: "It's clear that Latvia has passed through a far deeper valley of tears than Greece or Spain - and that this drastic cure is at least beginning to bear the first tender fruit. Now the EU is handing out its reward. It would be grotesque to leave the model country for macroeconomic shock therapy sitting in the monetary union's waiting room. And what could be more welcome for the ailing Eurozone than a new member? Latvia has a symbolic power for the zone, sending the message: we're still here. We're still attractive enough for countries to want to join us. Now much depends on how durable the improvement in Latvia's statistics turns out to be."

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