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The design of Latvian euro coins features three separate designs. The design of the national side was publicised in July 2006 on the home page of the National Bank of Latvia. The designs featured were the Latvian maiden, which was featured on the 5 lats coin prior to World War II, on the 1 and 2 euro coins, the greater Coat of arms of Latvia on the 10, 20 and 50 cent coins, and the lesser Coat of arms of Latvia on the 1, 2 and 5 cent coins. Originally, it was planned that Freedom Monument would be featured on the 2 euro coin, but the original design did not meet the regulations of the European Central Bank since it reached out into the ring of the coin and changed one of the stars. Latvia decided that a changed design of the monument would not be as recognisable and decided to use the Latvian maiden, used on the 1 euro coin, on the 2 euro coin as well.

Latvia has been a EU member state since 1 May 2004, and as such also a member of the Economic and Monetary Union. Its currency, the Latvian lats, was pegged to the euro when it joined the ERM II on 2 May 2005, and since then has floated within 1% of the central rate: Ls 0.702804 = €1. Latvia had originally planned to adopt the euro on 1 January 2008, but for various reasons this was subsequently delayed several times. After being elected in 2011, Latvian President Andris Bērziņš announced the official goal was for Latvia to join the eurozone in 2014: "Personally I'm very optimistic we'll join the euro on 1 January 2014. It's our goal and we are working hard to implement this process." In September 2012, the official target for a euro adoption of January 2014 was again confirmed, with Latvian Prime Minister Valdis Dombrovskis saying: "Latvia is on track for 2014 and permission to join would be sought in 2013."

Some parliamentarians in Latvia have pushed for a referendum on euro adoption, but Latvian Prime Minister Valdis Dombrovskis has argued that a referendum is unnecessary because Latvians already voted in favour of their EU accession treaty in 2003 which binds them to adopt the euro at some point, and that a referendum would delay the switchover process. According to Latvian law, a referendum can be called if more than 1/3 of the MPs support it. However, the biggest oposition party Harmony Center stated on 4 February 2013 that they would not support a referendum proposal by the other opposition party Union of Greens and Farmers. On 9 February it was announced the proposal had only gathered the support of 4 out of 100 MPs. The MPs supporting the referendum stated that they would instead attempt to collect the minimum 30,000 electoral signatories required to put the measure to a referendum, the last option they had to force a referendum on the issue. Latvia officially applied for euro adoption on 4 March 2013.

Proposed Latvian euro design

The Latvian Parliament adopted on 26 July 2005 "Regulation Nr.564", outlining that the official Latvian name of the euro currency would be "eiro". In December 2007 the regulation was amended, so that the name in all legal matters would be "euro" and in all non-legal matters "eiro". The ECB was asked to approve this special naming convention, but declined on 13 November 2012 and asked Latvia to repeal either the entire regulation or at least the paragraph that granted the euro currency a special Latvian name. On 4 March 2013, the Latvian Ministry of Justice clarified that while the official name of the currency for all financial and legal documents shall be "euro", the public will continue to be able to use the Latvian name "eiro". For the design of images on the common side and a detailed description of the coins, see euro coins. These designs must be regarded as pattern pieces: they have no official status or sanction.

A tender for minting the Latvian euro coins began on 20 September 2012. On 10 December 2012, it was announced that Latvia will utilize the Stuttgart Mint.

Roadmap for euro adoption

A draft law was presented by the governments cabinet on 6 November 2012, which outlined four key regulations for the introduction of the euro: 1) ATM's will stop distributing lats from 1 January 2014, 2) Both Lats and Euros will be in circulation for two weeks, 3) Post offices will offer free exchange for a month (later being extended to three months in the final version of the law), 4) All shops must have dual price displays for three months before until six months after the adoption. The law was given final approval vote on 31 January 2013. For Latvia to adopt the euro in 2014, they will need to comply with all five convergence criteria. The Latvian finance minister announced in December 2012 that they planned to request a convergence compliance check in February 2013. However, in January 2013 Dombrovskis stated that for "technical reasons" the formal request had been delayed until March, but that Latvia "are currently fulfilling the Maastricht criteria with a considerable reserve, therefore I don't see any basis on which this convergence report would be negative." In the beginning of March, the Latvian government formally applied for entrance to the eurozone, and the Economic and Financial Affairs Council of the EU is expected to make a decision on their application in July 2013. Under this timeline, the convergence evaluation of interest rates and inflation values will be conducted as per the measured annual average on 28 February 2013.

Convergence Status

The Maastricht Treaty originally required that all members of the European Union join the euro once certain economic criteria are met. In April 2012, when Latvia last time was officially evaluated by ECB, it met 3 out of the 5 criteria. Latvia has announced that they will request that another evaluation be conducted in March 2013. Latvian Prime Minister Valdis Dombrovskis stated in January 2013 that Latvia "are currently fulfilling the Maastricht criteria with a considerable reserve, therefore I don't see any basis on which this convergence report would be negative."

The table below display Latvia's convergence status throughout the past year, based on ECB's official assesment method, with Greece and Ireland treated as an interest outlier during the assesment months in June-December 2012 (being excluded for the calculation of the interest rate reference value limit, meaning it throughout this period was only based on Swedish data). The Latvian Central Bank recently published an investor presentation, where they incorrectly claim Latvia fully complied with all criteria since September 2012 (equal to the assement month in October 2012), based on their view that Ireland from that point of time no longer should be classified as an "interest rate outlier" and that their forecast fiscal figures for 2012 showed compliance with the fiscal criteria. This is a situation which call for additional sources to clarify if the ECB assement method recently has been changed (i.e. by increasing the previously defined "outlier limit" from 2.0% above the eurozone average -as depicted by ECB method precedense-, so that the new limit for classifying countries with high interest rates as outliers perhaps has been raised now to be 3.0% above the eurozone average, as the Latvian Central Bank apparently seem to believe). Alternatively, the recently reported compliance claim by the Latvian Central Bank, could also be an attempt to enforce their own political opinion about this matter towards ECB.

According to the official ECB method, it is however no matter the outcome of the uncertain "Irish situation", about wether or not they should have been involved in the calculation of the reference value limit for interest rates in September-December 2012, without any doubt directly incorrect when the Latvian Central Bank claim full compliance with all Maastricht criteria during the assesment months in September-December 2012. Claiming a full Latvian compliance throughout the last months of 2012 strives against the ECB methods clear rule, that compliance towards the fiscal criteria shall always be measured according to whether or not an open ongoing EDP exists for the country (as defined by the EU treaty's art.140 and 126(6) referral to the Protocol on the Excessive Deficit Procedure), meaning that a country need to comply with the fiscal criteria by its official fiscal data (published by the European Commission's statistical agency Eurostat) for the last full calendar year. As Latvia did not comply with the deficit criteria by its published 2011 fiscal data, their EDP was not abrogated throughout 2012, and thus the country did not comply with the euro adoption deficit criteria throughout 2012. It shall be noted that the European Commission's latest economic forecast, indicate that Latvia's EDP will be abrogated shortly after Eurostat publish the country's official deficit and debt data for fiscal year 2012, which according to the release calendar will happen on 22 April 2013.

According to the previously published "ECB method" being applied by the data table below, it is only correct to claim that Latvia has complied with all Maastricht criteria since the data month January 2013 (understood as being since the "assessment month" February 2013). The official confirmation about Latvia's potential compliance with all five criteria, will however only be known when published by the ordered ECB convergence report, which will await Eurostat's publication of the finally recorded 2012 fiscal data on 22 April 2013.

Convergence criteria

Assessment month	Country	HICP inflation rate	Excessive deficit procedure		Exchange rate		Long-term interest rate	Compatibility of legislation
			Budget deficit to GDP	Debt-to-GDP ratio	ERM II member	Change in rate
January 2012	Reference values	max. 3.1% (as of 31 Dec 2011)	max. 3.0% (Forecast of fiscal year 2011)	max. 60%, or declining (Forecast of fiscal year 2011)	min. 2 years (as of 31 Dec 2011)	max. 5.79% (as of 31 Dec 2011)
	Latvia	4.2%	4.2%	44.8%	2 May 2005	5.91%
February 2012	Reference values	max. 3.1% (as of 31 Jan 2012)	max. 3.0% (Forecast of fiscal year 2011)	max. 60%, or declining (Forecast of fiscal year 2011)	min. 2 years (as of 31 Jan 2012)	max. 5.83% (as of 31 Jan 2012)
	Latvia	4.2%	4.2%	44.8%	2 May 2005	5.94%
March 2012	Reference values	max. 3.1% (as of 29 Feb 2012)	max. 3.0% (Forecast of fiscal year 2011)	max. 60%, or declining (Forecast of fiscal year 2011)	min. 2 years (as of 29 Feb 2012)	max. 5.83% (as of 29 Feb 2012)
	Latvia	4.2%	4.2%	44.8%	2 May 2005	5.88%
2012 ECB Report	Reference values	Max. 3.1% (as of 31 Mar 2012)	None open (as of 31 March 2012)		Min. 2 years (as of 31 Mar 2012)	Max. ±15% (for 2011)	Max. 5.80% (as of 31 Mar 2012)	Yes (as of 31 Mar 2012)
			Max. 3.0% (Fiscal year 2011)	Max. 60% (Fiscal year 2011)
	Latvia	4.1%	Open		6 years, 11 months	0.3%	5.77%	No
			3.5%	42.6%
May 2012	Reference values	max. 3.1% (as of 30 Apr 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 30 Apr 2012)	max. 5.77% (as of 30 Apr 2012)
	Latvia	4.0%	3.5%	42.6%	2 May 2005	5.65%
June 2012	Reference values	max. 3.1% (as of 31 May 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 31 May 2012)	max. 3.98% (as of 31 May 2012)
	Latvia	3.7%	3.5%	42.6%	2 May 2005	5.55%
July 2012	Reference values	max. 3.0% (as of 30 Jun 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 30 Jun 2012)	max. 3.86% (as of 30 Jun 2012)
	Latvia	3.5%	3.5%	42.6%	2 May 2005	5.48%
August 2012	Reference values	max. 3.0% (as of 31 Jul 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 31 Jul 2012)	max. 3.74% (as of 31 Jul 2012)
	Latvia	3.3%	3.5%	42.6%	2 May 2005	5.40%
September 2012	Reference values	max. 3.0% (as of 31 Aug 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 31 Aug 2012)	max. 3.68% (as of 31 Aug 2012)
	Latvia	3.1%	3.5%	42.6%	2 May 2005	5.31%
October 2012	Reference values	max. 3.0% (as of 30 Sep 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 30 Sep 2012)	max. 3.66% (as of 30 Sep 2012)
	Latvia	2.9%	3.5%	42.6%	2 May 2005	5.17%
November 2012	Reference values	max. 2.9% (as of 31 Oct 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 31 Oct 2012)	max. 3.63% (as of 31 Oct 2012)
	Latvia	2.7%	3.4%	42.2%	2 May 2005	4.99%
December 2012	Reference values	max. 2.8% (as of 30 Nov 2012)	max. 3.0% (Fiscal year 2011)	max. 60%, or declining (Fiscal year 2011)	min. 2 years (as of 30 Nov 2012)	max. 3.61% (as of 30 Nov 2012)
	Latvia	2.5%	3.4%	42.2%	2 May 2005	4.79%
January 2013	Reference values	max. 2.8% (as of 31 Dec 2012)	max. 3.0% (Forecast of fiscal year 2012)	max. 60%, or declining (Forecast of fiscal year 2012)	min. 2 years (as of 31 Dec 2012)	max. 3.59% (as of 31 Dec 2012)
	Latvia	2.3%	1.7%	41.9%	2 May 2005	4.57%
2024 ECB Report	Reference values	Max. 3.3% (as of May 2024)	None open (as of 19 June 2024)		Min. 2 years (as of 19 June 2024)	Max. ±15% (for 2023)	Max. 4.8% (as of May 2024)	Yes (as of 27 March 2024)
			Max. 3.0% (Fiscal year 2023)	Max. 60% (Fiscal year 2023)

Notes

1. The rate of increase of the 12-month average HICP over the prior 12-month average must be no more than 1.5% larger than the unweighted arithmetic average of the similar HICP inflation rates in the 3 EU member states with the lowest HICP inflation. If any of these 3 states have a HICP rate significantly below the similarly averaged HICP rate for the eurozone (which according to ECB practice means more than 2% below), and if this low HICP rate has been primarily caused by exceptional circumstances (i.e. severe wage cuts or a strong recession), then such a state is not included in the calculation of the reference value and is replaced by the EU state with the fourth lowest HICP rate.
2. The arithmetic average of the annual yield of 10-year government bonds as of the end of the past 12 months must be no more than 2.0% larger than the unweighted arithmetic average of the bond yields in the 3 EU member states with the lowest HICP inflation. If any of these states have bond yields which are significantly larger than the similarly averaged yield for the eurozone (which according to previous ECB reports means more than 2% above) and at the same time does not have complete funding access to financial markets (which is the case for as long as a government receives bailout funds), then such a state is not to be included in the calculation of the reference value.
3. The change in the annual average exchange rate against the euro.
4. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2010 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 January 2011 - 31 December 2011.
5. The 3 best performing countries in regards to HICP inflation were Ireland (1.2%), Sweden (1.4%) and Slovenia (2.1%), with no outliers detected.
6. ^ These values are forecasts from the European Commission's Autumn 2011 Economic Forecast report. Cite error: The named reference "2011 fiscal data from the Nov 2011 report" was defined multiple times with different content (see the help page).
7. As Ireland (5.19% above average) is part of a bailout program, and at the same time also suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), this country was excluded from the calculation of the reference limit for "long term interest rates" leaving the benchmark calculated on basis of Sweden (with a 12m-average interest rate of 2.61%) and Slovenia (with a 12m-average interest rate of 4.97%).
8. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2010 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 February 2011 - 31 January 2012.
9. The 3 best performing countries in regards to HICP inflation were Ireland (1.3%), Sweden (1.3%) and Slovenia (2.1%), with no outliers detected.
10. As Ireland (5.07% above average) is part of a bailout program, and at the same time also suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), this country was excluded from the calculation of the reference limit for "long term interest rates" leaving the benchmark calculated on basis of Sweden (with a 12m-average interest rate of 2.47%) and Slovenia (with a 12m-average interest rate of 5.18%).
11. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2010 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 March 2011 - 29 February 2012.
12. The 3 best performing countries in regards to HICP inflation were Ireland (1.3%), Sweden (1.3%) and Slovenia (2.1%), with no outliers detected.
13. As Ireland (4.88% above average) is part of a bailout program, and at the same time also suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), this country was excluded from the calculation of the reference limit for "long term interest rates" leaving the benchmark calculated on basis of Sweden (with a 12m-average interest rate of 2.35%) and Slovenia (with a 12m-average interest rate of 5.30%).
14. Reference values from the ECB convergence report of May 2012.
15. Sweden, Ireland and Slovenia were the reference states.
16. ^ The maximum allowed change in rate is ± 2.25% for Denmark.
17. Sweden and Slovenia were the reference states, with Ireland excluded as an outlier.
18. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 May 2011 - 30 April 2012.
19. The 3 best performing countries in regards to HICP inflation were Sweden (1.2%), Ireland (1.5%) and Slovenia (2.2%), with no outliers detected.
20. ^ These values are final recorded data - as reported by the European Commission's Spring 2012 Economic Forecast report. Cite error: The named reference "2011 fiscal data from the May 2012 report" was defined multiple times with different content (see the help page).
21. As Ireland (4.46% above average) is part of a bailout program, and at the same time also suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), this country was excluded from the calculation of the reference limit for "long term interest rates" leaving the benchmark calculated on basis of Sweden (with a 12m-average interest rate of 2.11%) and Slovenia (with a 12m-average interest rate of 5.42%).
22. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 June 2011 - 31 May 2012.
23. The 3 best performing countries in regards to HICP inflation were Sweden (1.1%), Ireland (1.5%) and Greece (2.1%), with no outliers detected.
24. As Greece (16.13% above average) and Ireland (4.19% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.98%) as a benchmark country.
25. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 July 2011 - 30 June 2012.
26. The 3 best performing countries in regards to HICP inflation were Sweden (1.1%), Ireland (1.6%) and Greece (1.9%), with no outliers detected.
27. As Greece (17.08% above average) and Ireland (3.84% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.86%) as a benchmark country.
28. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 August 2011 - 31 July 2012.
29. The 3 best performing countries in regards to HICP inflation were Sweden (1.0%), Ireland (1.6%) and Greece (1.8%), with no outliers detected.
30. As Greece (17.92% above average) and Ireland (3.36% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.74%) as a benchmark country.
31. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 September 2011 - 31 August 2012.
32. The 3 best performing countries in regards to HICP inflation were Sweden (1.0%), Ireland (1.8%) and Greece (1.8%), with no outliers detected.
33. As Greece (18.64% above average) and Ireland (3.06% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.68%) as a benchmark country.
34. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 October 2011 - 30 September 2012.
35. The 3 best performing countries in regards to HICP inflation were Sweden (0.9%), Greece (1.6%) and Ireland (1.9%), with no outliers detected.
36. As Greece (18.92% above average) and Ireland (2.81% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.66%) as a benchmark country.
37. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 November 2011 - 31 October 2012.
38. The 3 best performing countries in regards to HICP inflation were Sweden (0.9%), Greece (1.4%) and Ireland (1.9%), with no outliers detected.
39. ^ These values are final recorded data - as reported by the European Commission's Autumn 2012 Economic Forecast report. Cite error: The named reference "2011 fiscal data from the Nov 2012 report" was defined multiple times with different content (see the help page).
40. As Greece (18.97% above average) and Ireland (2.59% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.63%) as a benchmark country.
41. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 December 2011 - 30 November 2012.
42. The 3 best performing countries in regards to HICP inflation were Sweden (0.9%), Greece (1.2%) and Ireland (1.9%), with no outliers detected.
43. As Greece (19.01% above average) and Ireland (2.37% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.61%) as a benchmark country.
44. ^ The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report, with the input of forecasted data for the sliding assessment year 1 January 2012 - 31 December 2012.
45. The 3 best performing countries in regards to HICP inflation were Sweden (0.94%), Greece (1.04%) and Ireland (1.92%), with no outliers detected.
46. ^ These values are forecasts from the Autumn 2012 Economic Forecast of the European Commission.
47. As Greece (18.48% above average) and Ireland (2.15% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.59%) as a benchmark country.
48. Reference values from the Convergence Report of June 2024.
49. ^ Belgium, Denmark, and the Netherlands were the reference states.

See also

• Enlargement of the eurozone

References

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42. ^ "European economic forecast - spring 2012" (PDF). European Commission. 1 May 2012. Retrieved 1 September 2012. Cite error: The named reference "EC Spring Forecast 2012" was defined multiple times with different content (see the help page).
43. ^ "Convergence report 2012" (PDF). European Central Bank. May 2012. Retrieved 15 January 2013.
44. ^ "European economic forecast - autumn 2012" (PDF). European Commission. 7 November 2012. Retrieved 7 November 2012.
45. ^ "Convergence Report June 2024" (PDF). European Central Bank. 26 June 2024. Retrieved 26 June 2024.
46. "Convergence Report 2024" (PDF). European Commission. 26 June 2024. Retrieved 26 June 2024.
47. "Luxembourg Report prepared in accordance with Article 126(3) of the Treaty" (PDF). European Commission. 12 May 2010. Retrieved 18 November 2012.

External links

• Eiro.lv - the euro changeover site (Ministry of Finance of Latvia)
• Bank of Latvia
  • EU and euro
• The Euro Information Website – Latvia

• Use dmy dates from June 2011
• Coins of the Eurozone
• Economy of Latvia
• Latvia and the European Union