Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro, received Andris Vilks, Latvian Minister for Finance, on 5 March 2013 in Brussels. They held a joint press briefing after the meeting.
Andris Vilks handed over to Olli Rehn Latvia's formal request for a convergence report in view of the country's aim of adopting the euro on 1 January 2014. The report will assess if the country has achieved the five convergence criteria as defined in the Maastricht Treaty for joining the euro. The criteria include a qualitative assessment of the structural sustainability of public finances in Latvia.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Exterior of the European Commission Berlaymont building
||Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro, shaking hands with Andris Vilks, Latvian Minister for Finance
||Olli Rehn and Andris Vilks posing for photographs
||Round table with Olli Rehn and Andris Vilks (4 shots)
||Cutaway of the press briefing
||Olli Rehn and Andris Vilks shaking hands - and Olli Rehn holding Latvia's formal request for a convergence report in view of the country’s aim of adopting the euro on 1 January 2014
||SOUNDBITE by Olli Rehn (in ENGLISH) saying that Andris Vilks handed him his country’s formal request for a convergence report in view of Latvia’s aim of adopting the euro on 1 January 2014; in line with the Treaty requirements, the Commission and the European Central Bank will each make an objective and profound assessment of Latvia’s readiness to join the euro area; they will present the conclusions of their assessment in the Spring – by late May, early June 2013.
||Cutaway of a photographer
||SOUNDBITE by Olli Rehn (in ENGLISH) saying that Latvia’s decision to request entry to the euro area shows how much progress the country has made in getting its economy back on track, following the very deep economic crisis of 2008-2009.
||SOUNDBITE by Andris Vilks (in ENGLISH) saying that it is very important for Latvia to join the euro; it is important for growth and for investment attraction; it could also be a very strong added value for the euro area.
||SOUNDBITE by Olli Rehn (in ENGLISH) saying that in June and July, the Eurogroup and Ecofin could take a decision based on the report of the Commission and the ECB.
||General view of the press briefing