In a time of great uncertainty within the European Union four countries have decided to forego their domestic currencies and adopt the euro as their official currency. This paper looks at why Slovakia, Estonia, Latvia, and Lithuania (SELL) were willing to take this large step in joining the eurozone. After the sovereign debt crisis and the Brexit vote many around the world and within the EU are anticipating an end to the union. However, amid this uncertainty the SELL countries have determined the benefits from removing exchange rate risk, the potential increase of inward FDI, and the further distancing from Russia outweigh the concerns regarding the future of the EU. The paper ends with a discussion regarding how this topic can be made into a case for classroom analysis.
EU, eurozone, Brexit, exchange rates, SELL