Statement by Andris Piebalgs on Convergence Report for Latvia
On 5 June 2013, Andris Piebalgs, Member of the EC in charge of Development, made a statement 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. SHOTLIST