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Foreign Minister Urmas Paet Welcomed Latvia’s Accession to the Eurozone

02.01.2014

Foreign Minister Urmas Paet congratulated Latvia about their accession to the Eurozone and emphasised that the addition of a new member state is a testament to Latvia’s diligent economic and financial policy and an affirmation of the Eurozone’s vitality and continuity.

For Latvia, accession to the Eurozone will mean joining one of the world’s largest currencies. “This will add stability to Latvia’s economy, simplify trade relations, and show that Latvia is a trustworthy partner and a member of an influential economic region,” declared Paet.

“Joining the Eurozone is a recognition of Latvia’s efforts. Preparing for the transfer to the Euro and the transition itself has been a voluminous process and Latvia has made many legislative and technical preparations,” said Foreign Minister Paet. “The usage of a common currency will also help to strengthen and simplify our bilateral economic relations,” he added.

Foreign Minister Paet further noted the importance of informing the citizenry about the practical organisation of transition to the Euro as well as the Euro’s inherent values. 

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