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Extracts from the joint press conference by Joaquín Almunia and Valdis Dombrovskis, Latvian Prime Minister, on the meeting EC/Latvia

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On 10 June, at a joint press briefing that followed bilateral talks with Valdis Dombrovskis, Latvian Prime Minister, Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, said that clear commitments were expected from the Latvian government and political forces to continue the painful economic adjustments in order to receive financial support from the European Union and other international bodies. The Commission was confident that the Latvian authorities will be able to make the required budget cuts of 500 million lats in 2009 and 2010. There is no alternative, said Joaquin Almunia. Valdis Dombrovskis said his country was concentrating on a medium-term strategy for the coming years in order to allow his country to join the euro area.
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Type: EbS   Reference: 64227   Date: 10/06/2009   Duration: 00:02:53
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