Latvia will join Eurozone in 2014
Latvia's citizens will now be sharing their currency with citizens of 17 other EU Member States after the Latvian Parliament voted and approved Latvia's Eurozone membership in 2014.
Latvia's Eurozone membership represents at this moment a signal of trust in the EU. The stability of the common currency is important for all Member States. The euro is aimed at providing a common good which benefits not only current Eurozone countries, but also future ones as well as countries that wish to stay out of the Eurozone.
Chairman of the EPP Group, Joseph Daul welcomed the historic decision of the Latvian Parliament. “Latvia is an example for the EU of how to overcome the economic and financial crisis and create growth and stability. This is a result of the strong commitment of Latvia to comply with all the necessary standards and to pave the way to a prosperous future of its citizens,” the EPP Chairman held.
“With 18 members the euro area will be stronger In Estonia, for example, the adoption of the Euro helped create more investment, more jobs and more economic growth. With 18 members the euro area will be stronger. I am convinced that Latvia will be a very important partner in the Eurozone club. The euro is both a world currency and one of the pillars of the European Union," Joseph Daul concluded.