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Latvia joins the eurozone

Latvia begins the new year by joining the eurozone, becoming the 18th member of the group of EU states which uses the euro as its currency.

A lot has changed in the Eurozone over the past two years - this year Ireland emerged from its bailout; Portugal hopes to follow suit in 2014.

While, most businesses in Latvia welcome the country's adoption of the euro, the majority of people are concerned about higher prices.

European Union finance ministers have agreed on a common set of rules to regulate banks in the eurozone, after months of tough negotiations.

Eurozone finance ministers reach a long-awaited deal over a 'momentous' banking union after many negotiations.

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