Search results
Results From The WOW.Com Content Network
The adoption process began 1 May 2004, when Latvia joined the European Union, entering the EU's Economic and Monetary Union. At the start of 2005, the lats was pegged to the euro at Ls 0.702804 = €1, and Latvia joined the European Exchange Rate Mechanism (ERM ll), four months later on 2 May 2005. [2]
The Latvian lats (plural: lati, plural genitive: latu, second Latvian lats ISO 4217 currency code: LVL) was the currency of Latvia from 1922 until 1940 and from 1993 until it was replaced by the euro on 1 January 2014. A two-week transition period during which the lats was in circulation alongside the euro ended on 14 January 2014. [3]
In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
Latvia is part of the European single market (light blue), Eurozone (dark blue) and Schengen Area (not shown). Real GPD per capita development of Estonia, Latvia and Lithuania. Latvia is a member of the World Trade Organization (1999) and the European Union (2004). On 1 January 2014, the euro became the country's currency, superseding the Lats.
Pages in category "Latvia and the European Union" The following 4 pages are in this category, out of 4 total. This list may not reflect recent changes. 0–9.
A referendum on European Union membership was held in Latvia on 20 September 2003. [1] Latvia was the last of the states which would join the EU in 2004 to hold a referendum on the issue. Just over two-thirds of voters voted Yes and Latvia joined the EU on 1 May 2004.
In September 2011, a diplomatic source close to the euro adoption preparation talks with the seven remaining new member states who had yet to adopt the euro at that time (Bulgaria, the Czech Republic, Hungary, Latvia, Lithuania, Poland, and Romania), claimed that the monetary union (eurozone) they had thought they were going to join upon their ...
1 The Bank of Latvia still exists, but many functions have been taken over by the European Central Bank. The Bank of Latvia ( Latvian : Latvijas Banka , [ 3 ] ) is the Latvian member of the Eurosystem and has been the monetary authority for Latvia from 1922 to 2013, albeit with a long suspension between 1940 and 1992. [ 4 ]