Euro changeover: Agreement with Latvia
Tuesday 10 July 2012
As it had done with other countries, the European Commission signed, on 10 July, a partnership agreement with the government of Latvia on future euro changeover communication activities. The sides have agreed to coordinate their information and communication efforts in Latvia with a view to increasing public knowledge of the Economic and Monetary Union and the euro, and to contributing to a smooth euro changeover in Latvia without prejudice to relevant Council decisions. Latvia had initially planned to join the eurozone on 1 January 2008. Currently, the deadline has been set for 2014. The Latvian lats (LVL) joined the Exchange Rate Mechanism (ERM II) on 2 May 2005, and Latvia unilaterally maintains a 1% fluctuation band around the central rate - which is 0.702804 to the euro.