Press conference by Olli Rehn, Vice-President of the EC, on the 2013 Convergence Report on Latvia
Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro, gave a press conference on the 2013 Convergence Report on Latvia. The EC published this report together with a citizen's summary that briefly explained the report and the rationale behind it. This Convergence Report concluded that Latvia had achieved a high degree of sustainable economic convergence with the euro area and proposed that the Council decide on Latvia’s adoption of the euro as from 1 January 2014.
The Report also concluded a positive assessment of Latvia's economic performance against the convergence criteria set out in the EU Treaty such as inflation, public finances (deficit and debt), interest rates, exchange rate and legislation.