Latvia’s government has applied to join the eurozone next year.
The Baltic country would become the 18th nation to become part of the single currency zone, which has been mired in crisis for the past four years.
Guntram Wolf, from the Bruegel Institute think-tank, said: “Latvia has made very significant progress in terms of adjusting its economy, getting ahead of the curve, being competitive.”
He added that “the chances are quite good” of the European Commission giving a positive verdict for Latvia to join this year.
The European Central Bank is also involved in making the evaluation, expected to be released in June.
“I think it is a good signal that countries are still interested in joining the eurozone despite all difficulties in the eurozone, I would take it as positive news,” said Wolf.
Latvia’s currency, the lat, has been pegged to the euro since 2005.
Opinion polls say nearly two-thirds of the population are against joining the single currency.
The appetite for adopting the euro has waned across much of eastern Europe after a series of sovereign bailouts that began with Greece in 2009.
Copyright © 2014 euronewsMore about:
- 1Europe’s sex slave shame: is enough being done to fight human trafficking?
- 2Protesters surround EU buildings as anti-TTIP anger voiced in Brussels
- 3Belgium gripped by travel chaos as strike takes hold
- 4euronews discusses Russia with Latvian PM after EU summit ends
- 5Chaos or cohesion: how will Europe respond to a major terror attack?
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Watch: Passengers ‘push-start’ frozen plane in Siberia | euronews, world news
- 3Le Pen: I admire ‘cool head’ Putin’s resistance to West’s new Cold War | euronews, interview
- 4McCain blasts Europe’s approach to Ukraine conflict ‘a joke’ | euronews, the global conversation
- 5Which countries in Europe cause the most air pollution damage? | euronews, world news
- 6Moldova pro-EU parties take narrow lead in elections | euronews, world news
- 7Grenoble: Europe’s first ad-free city | euronews, world news
- 8NATO joins search for ‘Russian submarine’ off Scottish coast | euronews, world news
- 9European Union News | euronews: latest breaking news and headlines about European Union
- 10Ukraine reports accident at Zaporizhzhya nuclear power plant | euronews, world news
- 11Crude awakening: Romania’s Black Sea oil and gas finds fuel Europe’s energy hopes | euronews, reporter
- 12The American Century comes to an end as China becomes the world’s largest economy | euronews, economy
- 13International breaking news | euronews online world breaking news in video
- 14Belgium’s former queen Fabiola dies at 86 | euronews, world news
- 15Germans demand honour for Turkish woman beaten to death | euronews, world news
- 16Chechen ‘death’ unit fighting with rebels in eastern Ukraine | euronews, world news
- 17Portugal: Ex-PM José Socrates held in corruption probe | euronews, world news
- 18Pakistan Taliban ‘kill over 100’ in Peshawar school attack | euronews, world news
- 19Israeli warplanes hit targets in Syria | euronews, world news
- 20Raids across Turkey target media outlets linked to Erdogan foe Fethullah Gulen | euronews, world news