Latvia to adopt euro in 2014
Latvia will adopt the euro on January 1, 2014, after getting the go-ahead from both the European Commission (EC) and the European Cental Bank (ECB) this afternoon.
The Baltic state, which submitted its application in March, comfortably met the convergence criteria necessary to become the eighteenth member of the eurozone.
In the past year, Latvia recorded an average inflation rate of 1.3% – well below the 2.7% limit – while its government deficit of 1.2% of GDP, debt-to-GDP ratio of 40.7% and
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