Proposal for a Council Regulation amending Regulation (EC) No 974/98 as regards the introduction of the euro in Latvia

On 5 June 2013, the Commission adopted a proposal for a Council Decision in accordance with Article 140(2) of the Treaty on the Functioning of the European Union (hereinafter the Treaty), indicating that Latvia fulfils the necessary conditions for the adoption of the euro and that the derogation of Latvia is abrogated with effect from 1 January 2014.

In case of a positive decision, the Council will subsequently have to take the other measures necessary for the introduction of the euro in Latvia.

Council Regulation (EC) No 974/98 on the introduction of the euro governs the initial introduction of the euro in the first wave euro-area Member States and Greece. In order for Latvia to also be covered by Regulation (EC) No 974/98, a reference to this Member State needs to be added to this Regulation. The present proposal contains the necessary amendments to this Regulation.

See also:
- Proposal for a Council Decision on the adoption by Latvia of the euro on 1 January 2014

EUR-Lex: COM(2013)337: Follow the progress of this proposal through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2013:337:FIN

ESO: Background information: Commission concludes that Latvia is ready to adopt euro in 2014 http://www.europeansources.info/record/press-release-commission-concludes-that-latvia-is-ready-to-adopt-euro-in-2014/

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