News

Euro symbolises Latvia’s reintegration into Europe

Krišjānis KARIŅŠ
14.01.2014 - 16:06
Krišjānis Kariņš MEP

The Euro marks Latvia’s reintegration into Europe. But what does it mean for Latvians?

Benefits for Latvian citizens and companies

My neighbour is an older guy who for the last couple of years has been living on his pension and from time to time is engaged in occasional employment. He has experienced many currency changes. Somehow this one doesn’t seem to him as particularly damaging to his financial situation, contrary to the previous ones which wiped out his savings.

The Lat made it only more difficult to fully benefit from the EU's open borders Krišjānis Kariņš

For work reasons, he sometimes goes abroad to neighbouring Estonia or to Finland. He was introduced to the Euro there and saw that these countries coped well with its introduction. These days when it is common for people to go abroad regularly, it seemed to him that the Lat made it only more difficult to fully benefit from the EU's open borders.

Entrepreneurs will be able to save banking fees for exchanging currency and invest it in their enterprise

Another friend of mine is an entrepreneur. He exports his goods to the rest of the EU and receives payments in Euros. For him, the introduction of the Euro is good news because now he will not have to pay fees to the banks for exchanging currency to pay his workers' salaries. He will be able to save these banking fees and invest them in his enterprise.

Saying farewell to the Lat doesn’t mean a loss of national identity

There was also opposition to the introduction of the Euro in Latvia. I regularly meet with voters and they have expressed their concerns about it.

The most common one was that it will be sad for them to say farewell to the Lat because it is such nice money to hold in one's hands. It has the Latvian symbols on it and people were afraid that by introducing the Euro they will lose some of their identity.

The Latvian Euro coin has the legendary profile of the maiden on it

This fear is gone now, because they see that the Latvian Euro coin has the legendary profile of the maiden on it.

Latvians are proud that after the fall of the Soviet Union, their country is finally reintegrating back into the European family

Today, Latvians enjoy holding the Latvian Euro in their hands, and are proud that after the fall of the Soviet Union, their country is finally reintegrating back into the European family. It means a lot, believe me.

We believe in people. #believeinpeople @krisjaniskarins

MEPs Involved

Latest

Esther Herranz García MEP and Nuno Melo MEP
18.10.2018 - 17:50

EPP Group promotes the role of youth in European agriculture

The EPP Group organised its fifth Congress of Young Farmers today to boost the role of young people in this crucial sector for Europe and to promote...
EPP Group highlights the EU’s long-term need for young farmers
18.10.2018 - 17:00

EPP Group highlights the EU’s long-term need for young farmers

The EPP Group held its fifth European Congress of Young Farmers in the European Parliament in Brussels. The number of young people taking up...
traffic on german autobahn,european cars and trucks
18.10.2018 - 10:32

Capping CO2 emissions: away with dirty trucks

EPP Group wants to limit CO2 emissions from trucks Today, the Members of the Environment Committee in the European Parliament voted in favour of a...
The map of Balkans under the magnifying glass
18.10.2018 - 09:32

EPP Group supports EU ambitions of Western Balkans

The EPP Group confirmed its support for the EU ambitions of the Western Balkan countries Albania, Bosnia and Herzegovina, FYROM, Kosovo, Montenegro...

Highlights of the week

15.10.2018 - 19.10.2018
Press freedom

Fight for the truth: free and independent journalism

In the past year, our continent has been shocked with the murders of a number of journalists, which is a clear threat to freedom of speech and...
Computer crime

Improving security through information sharing

With Monday’s vote, the Civil Liberties, Justice and Home Affairs Committee will close the gaps in data sharing essential for tracking...
traffic on german autobahn,european cars and trucks

First step towards capping CO2 emissions from trucks

The Environment Committee will vote on Thursday on what could be considered a first step towards capping CO2 emissions for new heavy vehicles such as...

Events

Oct
18
18.10.2018 - 09:00

XXI Annual EPP Group intercultural dialogue with churches and religious institutions

The XXI Annual EPP Group Intercultural Dialogue with Churches and Religious Institutions will be held in an...