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.

Top stories

UN committee: Slovakia still discriminates against Roma

Government should adopt measures to remove discrimination and segregation of the minority.

Moldava nad Bodvou

Slovak cybersecurity firm participated in global operation to disrupt malware system

Eset monitored malware and its impact on users over several years

Sagan shows impressive core exercises Video

The three-time world champion will start the new season in a month's time in Australia.

Peter Sagan

Infertility in men is increasing with those in their 40s better off then those in their 20s

Treatment of infertility can cost tens, or even several thousand euros. Only part of the cost is covered by health insurance companies.

To be fertile, a man has to have 15 million sperms per milligram of ejaculate, of which 4 million must be healthy.