The decision made today by the Economic and Financial Affairs Council (ECOFIN) to invite Latvia to join the euro area is significant not only politically and economically. This decision creates the need to explain to society the process of euro introduction, emphasised Chairperson Zanda Kalniņa-Lukaševica during today’s meeting of the European Affairs Committee.

On Tuesday, 9 July, right after the decision of the ECOFIN to invite Latvia to join the euro area was made public, members of the Committee met with Inna Šteinbuka, Head of the European Commission Representation in Latvia; Edvards Kušners, Member of the Council of the Bank of Latvia; and Arina Andreičika, Head of the Euro Office of the Ministry of Finance.

Kalniņa-Lukaševica highlighted the positive effect of the ECOFIN’s decision because accession to the euro area will ensure complete integration of Latvia into the European Union and will enable representation of its interests on all EU policy levels. “This decision opens up new opportunities for further economic growth of Latvia - to continue the reform process, to create a safe business environment, as well as to increase the welfare of our people,” indicated the Chairperson.

“Undoubtedly, this decision also creates the need to be more active in raising public awareness of the euro introduction process and the personal advantages of introduction of the new currency in Latvia. I hope that with this decision our people will become more European-minded, ungrounded myths will be dispelled, and society will realise that the EU creates opportunities and it is not something negative or something that is responsible for problems we ourselves have caused,” emphasised Kalniņa-Lukaševica.




Saeima Press Service