EP stemt in met rapport; toetreding Letland tot eurozone stap dichterbij (en)

European Parliament President Martin Schulz i made the following statement after the house approved a report on Latvia's readiness to join the euro zone i.

"I welcome the European Parliament's assessment that Latvia is ready for the euro. Joining the euro zone will be a milestone inLatvia's history and a confirmation of the euro zone's strength. It will bring Latvians many benefits if the authorities pursue right policies.

I congratulate Latvia for successful efforts to meet the euro eligibility criteria at a time when the government had to manage the economic crisis that hit its people so hard. In many respects, Latvia can be seen a courageous example for euro zone countries in difficulties.

Euro area membership brings clear benefits for countries if their economic policies are sound. It eliminates exchange rate risks, allowing savings on currency exchanges, lowers transaction costs, offers more favourable financing conditions for businesses and better price transparency for consumers. It opens the doors to a wide, integrated economic area and brings the full advantage of the European Single Market to the economy.

The EP's report rightly reminded that Latvia still faces challenges, such as fighting unemployment and narrowing the income gap, avoiding boom and bust cycles, strictly supervising banks and communicating actively with citizens about the advantages and the practical aspects of the euro adoption."

For further information:

europarl.president.press@europarl.europa.eu

Armin Machmer

Spokesperson

+32 498 98 15 50

Marcin Grajewski

Press Officer

+32 498 98 15 50