With a Sense of Dread, Lithuania Joins the Euro

It's probably too late for Lithuania to reconsider its plan to abandon its currency, the litas, and become the 19th member of the euro on Jan 1. But Greece's mess is a cautionary tale about the potential consequences of ceding sovereignty over monetary policy. Not to be too blunt about it, but losing the ability to cheapen your currency to increase exports and boost growth can be crippling.