EU’s Rehn: Latvia could join euro zone in 2014

The small Baltic state of Latvia could become the 18th member of the euro zone in 2014 if it continues on its current economic course, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Thursday.

“It is possible that they could join in 2014. The review (of whether the country meets the criteria) will be done in spring next year as was done for Estonia in 2010,” Rehn told Reuters.

Latvia, which on Tuesday said it would aim for 2014, would be the second Baltic state to join the single currency bloc. Neighboring Estonia adopted the euro in 2011.

Source and full story: Reuters, 18 Oct 2012

Tom Sullivan