Latvia in EMU on 2014

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ART
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Latvia in EMU on 2014

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http://www.novinite.com/view_news.php?id=144936" onclick="window.open(this.href);return false;
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melitikus
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Re: Latvia in EMU on 2014

Post by melitikus »

nice news
you can see the designs of their coins here

http://myeurohobby.eu/profiles/blogs/la ... y-modified" onclick="window.open(this.href);return false;
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Re: Latvia in EMU on 2014

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Latvian coins will be minted by mint of Stuttgart.

http://myeurohobby.eu/profiles/blogs/mi ... en_twitter" onclick="window.open(this.href);return false;
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Re: Latvia in EMU on 2014

Post by starcapitan »

http://www.eiro.lv
national changeover site
YOUTUBE channel, tracker with 25 hits also internationals and searching for the first triple ;0)
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Re: Latvia in EMU on 2014

Post by androl »

they re-added the top of the girl's head on the 1- and 2-euro coins. She looked a bit strange without it
compare:
http://mashopsimg.com/kohlross/pic/1598 ... -lettl.jpg" onclick="window.open(this.href);return false;
http://api.ning.com/files/XbRpHCGUIoELS ... oCoins.jpg" onclick="window.open(this.href);return false;
http://www.eiro.lv/eng/the_euro/euro_ba ... euro_coins" onclick="window.open(this.href);return false;

The 2-euro coin will be the second euro coin with a reference to the Almighty :|
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Re: Latvia in EMU on 2014

Post by ART »

€1 and €2 Designs Modified: the top part of the head of the Latvian maiden has been changed:

http://myeurohobby.eu/profiles/blogs/la ... s-modified" onclick="window.open(this.href);return false;
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Re: Latvia in EMU on 2014

Post by gragox »

androl wrote:The 2-euro coin will be the second euro coin with a reference to the Almighty :|
Where on the coin do you see a reference to the national anthem of Latvia?

Btw, some important updates from Latvia - three days ago Latvian parliament passed the "euro introduction law", which mainly considers technical terms of the introduction (such as, for how long retailers will need to show prices in both lats and euro, etc.). It basically means we are set, no more laws must be passed, etc.

Introduction of euro has still very low (below 50% for sure, could realistically be around 30%) popularity among Latvians, and, along with the law that was passed, one of the members of opposition announced that she will call for a referendum (needs signatures of 1/3 of parliament that she'll get easily and the green light from president that she won't get), also there are several initiatives gathering signatures of the public (10k necessary in the first phase, then ~100-150k).

Anyhow, currently the main question is, whether such a referendum can actually take place, as, according to the constitution, a referendum can't be called on matters that are regulated by international law, yet the activists are only willing to postpone the introduction, and the year 2014 hasn't been set in any international documents.

And, finally, PM Dombrovskis announced that, if a referendum is going to take place, regardless of its outcome, Latvia won't be able to join eurozone by 2014, as the referendum won't allow to take the necessary steps of introduction in time.
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Re: Latvia in EMU on 2014

Post by melitikus »

gragox wrote:
androl wrote:The 2-euro coin will be the second euro coin with a reference to the Almighty :|
Where on the coin do you see a reference to the national anthem of Latvia?
.
check here
http://myeurohobby.eu/profiles/blogs/la ... nscription" onclick="window.open(this.href);return false;

it will be on the edge of the 2 euro coin
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Re: Latvia in EMU on 2014

Post by tabbs »

gragox wrote:And, finally, PM Dombrovskis announced that, if a referendum is going to take place, regardless of its outcome, Latvia won't be able to join eurozone by 2014, as the referendum won't allow to take the necessary steps of introduction in time.
Oh well, whether the country joins the euro area or not, that is basically up to the Latvians. Nobody forces them to get in - and there are ways (see Sweden) to stay out even if a member state basically meets the criteria.

As for religious mottos on coins, I do not like that either, even if they are taken from the national anthem. But if a country wants to make such a statement ...

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Re: Latvia in EMU on 2014

Post by Akai »

On 5 June 2013, the European Commission published a 46 page Convergence Report, the accompanying summary of which stated that "that Latvia has achieved a high degree of sustainable convergence and therefore it is considered ready to adopt the euro in 2014." The European Central Bank also noted its approval of Latvia's adoption. Latvia's adoption of the euro on 1 January 2014, a legal obligation now that the convergence criteria have been met, still requires the formal approval of the European Parliament.

ECB: Convergence Report 2013 on Latvia
Wikipedia: Latvia and the euro
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Re: Latvia in EMU on 2014

Post by ewekoc »

What is your opinion about Latvia adopting Euro? What do you think will happen?
Everyone is so excited about it, but I was wondering how it will influence Latvian economy. Whether Greece' , Portugal' situation will be repeated?
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Re: Latvia in EMU on 2014

Post by tabbs »

Excited? Nah, but I find it interesting that, despite all that talk about the oh-so-imminent death of the common currency (didn't we hear pretty much the same doomsday prophecies when Estonia joined "in the middle of the crisis"?), the Baltic countries - EE, LT, LV - make such moves. I know that the economic program of the current Latvian government is not terribly popular among the Latvians, and that includes the introduction of the euro. Then again, the lats has been in the Exchange Rate Mechanism for several years, and the government in Riga even keeps the fluctuation band narrower than required by the ERM-II. So in a way, they have been "in" for quite a while, but so far without having any influence on ECB decisions ...

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Re: Latvia in EMU on 2014

Post by ART »

ewekoc wrote:but I was wondering how it will influence Latvian economy. Whether Greece' , Portugal' situation will be repeated?
This association of ideas is wrong, because the crisis and the situation in Greece and Portugal haven't been generated by the monetary union. Various John Paulson, George Soros and Warren Buffet have bet millions on a failure of the Euro and they have a major interest to inlead one to think this.
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Re: Latvia in EMU on 2014

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It's official now - the Council has made its decision. Here is the press release:
http://www.consilium.europa.eu/uedocs/c ... 137884.pdf" onclick="window.open(this.href);return false;
(Excerpts below)

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Latvia to adopt euro on 1 January 2014
Brussels, 9 July 2013

The Council has today [1] adopted a decision allowing Latvia to adopt the euro as its currency as of 1 January 2014. This decision will extend the euro area to 18 member states, and gives Latvia almost six months to prepare for the changeover. (...) Euro notes and coins will be issued in Latvia on 1 January 2014. The conversion rate is set at 0.702804 Latvian lats to one euro, which corresponds to the current central rate of the lats in the EU's exchange rate mechanism (ERM II).

[1] The decision was taken at a meeting of the Economic and Financial Affairs Council.
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Re: Latvia in EMU on 2014

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