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's Bokova Enters Politico's List of People 'Shaking the World'
- » Bulgaria Calls on EU Commission to Prepare for Possible Migrant Inflow from Turkey
- » Bulgaria Joins European Public Law Organization
- » Bulgaria Faces 'Genuine Threat of Radicalization' - MEP
- » Bulgaria's VP-Elect Sparks New Row over Migrant Reception Centers
- » Bulgaria PM Leaves EU Commissioner Choice to Interim Govt