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.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » EC is Preparing Criminal Proceedings against Bulgaria for Accessing Data from Criminal Record Certificates
- » The European Commission Started an Evaluation of the Bulgarian Recovery Plan
- » Nearly 60% of Bulgarians are Skeptical about Adopting the Euro
- » Bulgaria Is Late to Explain Its Position on N.Macedonia Says Diplomat
- » New German Government and Old Bulgarian "bad boy" Borissov
- » EC Opens Infringement Proceedings against 19 EU Member States, Including Bulgaria