Latvia must be bonkers

With Europe paying the consequences of Greece fiddling the books to join the eurozone, Latvia is pushing ahead with plans to become the 18th member of the eurozone on 1 January 2014.

And, that's despite unemployment in the region being at an all-time high, Spain and Portugal struggling to bring their debt and deficits under control, and Greece's long-term future in the currency still in doubt.

But, according to a recent opinion poll, more than half the population is against joining the single currency and many worry that food will become more expensive. The prospect of contributing to bailouts for richer eurozone countries is also unpopular.

Bulgaria has seen sense and decided against joining but more importantly, I don't think the EU is in a position to accept any new members until it has got its own house in order.