Latvia formally applies for eurozone membership

Latvia decided on the 4 March 2013 to apply to join the eurozone in 2014.

To join the eurozone, Latvia needed to ask for an assessment by the European Commission and European Central Bank of its readiness to switch currency and the cabinet of ministers took this step on Monday.

The application was handed over in Brussels on the 5 March 2013. A report on Latvia's euro hopes will be prepared by the European Commission and the European Central Bank. Finance ministers are expected to take a final decision in July 2013.

European Parliament: News, 26.02.13: Latvia set to join the euro http://www.europarl.europa.eu/news/en/headlines/content/20130225STO06071/

EUObserver, 26.02.13: Euro membership is 'guiding light' for Latvia reform http://euobserver.com/news/119207

ESO: Background information: Latvia prepares for 2014 eurozone accession http://www.europeansources.info/record/latvia-prepares-for-2014-eurozone-accession/

Deutsche Welle, 04.03.13: Latvia formally applies for eurozone membership http://www.dw.de/latvia-formally-applies-for-eurozone-membership/a-16644145

ESO: Background information: Latvian parliament paves way to euro switch http://www.europeansources.info/record/latvian-parliament-paves-way-to-euro-switch/

http://europa.eu/rapid/press-release_MEMO-13-166_en.htm http://europa.eu/rapid/press-release_MEMO-13-166_en.htm

Latvian Ministry of Finance, 04.03.13: Letter requesting the Convergence Report is signed http://www.fm.gov.lv/en/actual_news/45883-letter-requesting-the-convergence-report-is-signed

EUObserver, 06.03.13: Latvia submits bid to join euro in 2014 http://euobserver.com/economic/119294

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