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Sunday 22.07.2018 | Name days: Marija, Marika, Marina
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Latvia’s Eurozone membership to cost LVL 28 million per year

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«According to some calculations, Latvia’s medium term financial benefit from the Eurozone membership could be several hundred million Lats. While our Eurozone membership fee will be around LVL 28 million per year, paying this amount for five year in a row», – notes Dace Kalsone Europroject manager.

«In spring next year, we will request a full evaluation of our judicial environment, whether or not it is convergent enough to fulfill all requirements, both this evaluation process and the decision to perform it will be that of the European Coulncil. They will issue Latvia a special regulation, which will contain a fixed currency exchange rate«, – Kalsone said in an interview to Dienas Bizness.

Whether or not Latvia’s economy does adhere to the Maastricht criteria will be concluded in April, 2013. The main criteria are inflation and long term interest rate. These aspects will be assessed during the period from April 2012 to March 2013. Respectively, these indexes will not be fixed in a specific moment, instead their development tendency will be evaluated. While the budget deficit and state debt will be specifically fixated, with the 2012 situation kept as a base; possible projections will also be taken into account. It will be done so that it would not look like 2012 ended successfully and allowed planning unimaginable expenses for 2013.

With the day of the introduction of Euro all institutions, including private and legal persons’ accounts, will have their money converted to Euro. All non-cash funds will be automatically converted, and that will be done free of charge. Account number will stay the same.

Lats and Euros will be allowed to use in a predetermined period of time. «This will be a form of support to companies, but we dropped the idea for this period to be one month, and so we reduced it to two weeks. During another two weeks, people will be able to pay for products with Lats, and receiving cash change in Euros», – Kalsone explains.

Ref: 102.109.109.1262


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