An article in the Economist in 2016 notes that the “euro crisis” didn’t keep four additional countries—Slovakia, Estonia, Latvia, and Lithuania—from joining the eurozone between 2009 and 2016: “Their experience suggests that the euro still has its benefits, but also some familiar risks.”
a. What was the “euro crisis”?

b. What benefits does a country potentially gain from being a member of the eurozone? What are the familiar risks of being a member?

c. All four of these countries are small. Are there greater benefits to a smaller country being part of the eurozone than there are to a larger country? Briefly explain.