Latvia Formally Goes for the Euro
Latvia has formally applied to adopt the euro currency 2014, a move that could see the Baltic state become the bloc's 18th member.
The move had been expected and comes after Latvia met the required financial criteria, including levels of state debt, budget deficit and inflation.
Polls, however, indicate that nearly two-thirds of Latvia's population is against swapping the lat for the euro, which only last year some investors were betting would collapse.
A government spokesman said Monday that the formal request would be given to the European Union's Monetary Affairs Commissioner, Olli Rehn, on March 5 in Brussels.
The commission, along with the European Central Bank, will likely decide on Latvia's request in June.
- » Bulgaria-EU Trade Increased in First Eleven Months of 2015
- » Germany Demands Bulgaria Step Up Pace of Judicial Reform
- » EU Commission Forecasts Bulgarian Economy to Grow by 1.5 % in 2016, 2 % in 2017
- » Bulgaria to Contribute EUR 5.9 M to EU Grant for Refugees in Turkey
- » EUR 35 M of Loans to be Provided to Bulgarian SMEs under Juncker Plan
- » Eurostat: Bulgaria's Unemployment Rate Was Below EU Average in December 2015