Spectator on facebook

Spectator on facebook

FOCUS SHORT

Latvia will adopt the euro in 2014

AS OF January 2014 Latvia will become the 18th member of the eurozone. Economy and finance ministers from the 28 European Union countries gave the final green light to Latvia on July 9 to join the eurozone on January 1, 2014.

AS OF January 2014 Latvia will become the 18th member of the eurozone. Economy and finance ministers from the 28 European Union countries gave the final green light to Latvia on July 9 to join the eurozone on January 1, 2014.

“ECOFIN has made the final decision approving Latvia’s euro membership from 2014,” the EU’s current Lithuanian presidency announced as cited by the AFP newswire.

Euro notes and coins will be issued in Latvia on January 1, 2014, while the exchange rate was set at 0.702804 lats to €1.

When heading into the ECOFIN council’s meeting earlier in the day, Latvian Finance Minister Andris Vilks described it as a “symbolic day”. When asked whether he had any qualms about joining the single currency at such a difficult time, Vilks acknowledged that “those hard times will last several years, at least”.

Latvia emerged from a crisis in 2008-09 to become the EU’s fastest-growing economy, having posted GDP growth of more than 5 percent year-on-year in both 2011 and 2012.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Heavy rains flood the Tatras Video

People had to be evacuated and several hiking routes had to be closed.

Stará Lesná

Trump plays with the world like a spoiled child

The White House is now broadcasting its most spectacular soap opera, beating and overcoming those of sundry leaders from different continents and different times.

Donald Trump

Last Week in Slovakia: People marched for LGBTI rights in Bratislava Audio

Listen to all the headlines from The Slovak Spectator's news podcast.

Rainbow Pride in Bratislava

Government has no plans to officially commemorate the victims of the 1968 invasion of Czechoslovakia

Presidents of the Slovak and Czech Republics will take a train ride to mark the founding of the Czechoslovak State.

Law Faculty of Comenius University in Šafárikovo Square, where the civilian killings by foreign armies on August 21, 1968, were most concentrated.