Latvia will join the euro zone and introduce euro on 1 January 2014. The relevant law was signed on 15 February by the President Andris Berzins. The Latvian Saeima approved the Law on the introduction of euro on 31 January.
Euro and Lats will simultaneously be effective only for two weeks next year, while the change will be in euros only. Payments thereafter will be made only in the official currency – euros. Lats will not be available at cash machines since the introduction day of euros. However, the government will provide the citizens with the possibility to get used to the value of goods and services in euros, and for about half a year prices will be indicated in the two currencies. Besides, according to an opinion poll, more than 63% of Latvian residents have a negative attitude towards the innovation, reported the "Echo of Moscow".
Estonia was the first republic of the former Soviet Union, which moved to the euro. It entered the euro zone on 1 January 2011 and abandoned its national currency - the kroon.
Material has been prepared by the Centre of Geopolitical Studies with reference to the article from «Утро.ru» of 15 02 2013
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