Convergence Status
The Maastricht Treaty originally required that all members of the European Union join the euro once certain economic criteria are met. When Latvia was evaluated last time in April 2012, it met 4 out of the 5 criteria.
| Convergence criteria | |||||
|---|---|---|---|---|---|
| Inflation rate 1 | Government finances | ERM II membership | Long-term interest rate 2 | ||
| annual government deficit to GDP | gross government debt to GDP | ||||
| Reference value | max 2.9% | max 3% | max 60% | min 2 years | max 6.2% |
| Latvia (April 2012) | 2.7% | 3.4% | 42.2% | Yes | 5.0% |
| criteria fulfilled criteria not fulfilled | |||||
Read more about this topic: Latvian Euro Coins
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