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Latvia applies to enter eurozone


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#1    Render

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Posted 05 March 2013 - 07:15 AM

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Latvia has formally applied to join the euro in 2014, in a move which could see it become the 18th member of the bloc.
The move had been expected and comes after the small Baltic state met the required financial criteria.
Latvia suffered a deep recession in the wake of the financial crisis that saw it receive an international bailout.
PM Valdis Dombrovskis imposed big public spending cuts that helped the recovery. Latvia is now one of the fastest-growing economies in the EU.


http://www.bbc.co.uk...siness-21656254

Edited by Render, 05 March 2013 - 07:16 AM.


#2    Jackofalltrades

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Posted 05 March 2013 - 08:16 AM

Do they need to see a shrink ? :whistle:

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#3    Valdemar the Great

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Posted 05 March 2013 - 08:17 AM

Latvia is now one of the fastest-growing economies in the EU, so that's why they're eager to join the Euro?  It's rather like someone in a small boat coming alongside the Titanic and eagerly climbing aboard on one side, while on the other side the lifeboats are going down into the water, isn't it. I can only presume they only read the bit about how generous the lovely people at the EU are with their handouts and Loans, and always click "accept" without bothering with all the small print. ("Your Economy could be at Risk if you do not keep up repayments"). I bet insurance salesmen would love the Latvian government.

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#4    Frank Merton

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Posted 05 March 2013 - 08:39 AM

I suspect its because they don't see the Eurozone as the Titanic but instead as a ship going through a storm and they are better off on the big ship than staying out in the storm in the small one they have.


#5    Valdemar the Great

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Posted 05 March 2013 - 09:12 AM

View PostFrank Merton, on 05 March 2013 - 08:39 AM, said:

I suspect its because they don't see the Eurozone as the Titanic but instead as a ship going through a storm and they are better off on the big ship than staying out in the storm in the small one they have.
but their Economy is, as it says, now one of the fastest growing in the EU, and they seem to have steered through the storm and are now hoisting full sail as they pick up the trade winds of prosperity. Whyever would they want to encumber themselves, to thoroughly mix metaphors, with an albatross around their necks now?

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#6    Frank Merton

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Posted 05 March 2013 - 09:25 AM

I think Latvia wants to ally itself with Germany and Europe as an offset against Russia.

Economically, the fact that they are doing well for the moment is just that -- for the moment.  All countries have their up times and their down times, and planning for down times is important.


#7    spud the mackem

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Posted 05 March 2013 - 10:13 AM

So if Latvia is doing very well, why are thousands of their citizens applying for immigration to other Countries ?..There is a few in my town,working in places like McDonalds, they are friendly people but everyone I've spoken to says Latvia is going down the pan.You dont leave your Homeland if the conditions are good.

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#8    stevewinn

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Posted 05 March 2013 - 11:12 AM

WHO IS Latvia? exactly. -

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#9    keithisco

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Posted 05 March 2013 - 12:16 PM

The term "Fastest growing economy" is dependent on the underlying economy. If you are coming from a very poor growth base then, what appears to be fast growth may actually be mediocre (comparitively speaking).


#10    Frank Merton

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Posted 05 March 2013 - 12:23 PM

Well I remember not long ago when it was Spain that had the fastest growing European economy.


#11    Tutankhaten-pasheri

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Posted 05 March 2013 - 04:31 PM

Latvia will fit in well with the EU "democracy", as they did not allow 300,000 Russians classified as "non citizens" to vote in referendum to have Russian as second official language. This is 14% of population denied a vote. But the unelected Baroso and Rompuy will hardly have any concerns about this.

NB, there is a further 27% of population who are ethnic Russians who can vote, though why not allow all Russians to vote, that will be 41% of total vote. Then there are ethnic  Ukranians and Belarussians. With their vote there will be nearly 50% Eastern Slavonic speakers in Latvia, yet they are denied official recognition....


#12    spud the mackem

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Posted 05 March 2013 - 08:33 PM

View Poststevewinn, on 05 March 2013 - 11:12 AM, said:

WHO IS Latvia? exactly. -
   This bird that works in the chip shop with Nadia, hee hee

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#13    bmk1245

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Posted 05 March 2013 - 09:45 PM

View PostAtentutankh-pasheri, on 05 March 2013 - 04:31 PM, said:

Latvia will fit in well with the EU "democracy", as they did not allow 300,000 Russians classified as "non citizens" to vote in referendum to have Russian as second official language. This is 14% of population denied a vote. But the unelected Baroso and Rompuy will hardly have any concerns about this.

NB, there is a further 27% of population who are ethnic Russians who can vote, though why not allow all Russians to vote, that will be 41% of total vote. Then there are ethnic  Ukranians and Belarussians. With their vote there will be nearly 50% Eastern Slavonic speakers in Latvia, yet they are denied official recognition....
Ah, lets see:

Quote

Non-citizens may naturalize provided that they have been permanent residents of Latvia for at least 5 years, demonstrate Latvian language competency, correctly answer questions regarding Latvia's Constitution and history—including that it was occupied by the Soviet Union (a question debated in Latvian Russian press)[29] and know the words to the Latvian national anthem.[30]
(link)
If ethnic minorities don't want, or can't learn Latvian language, remember bits of history, constitution, national anthem, thats not the problem of Latvia.

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#14    Valdemar the Great

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Posted 06 March 2013 - 07:36 AM

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and know the words to the Latvian national anthem.
I'm pretty sure that would disqualify a good 70% of the population of most of the countries of the world from citizenship of their own countries, if that was applied universally.

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#15    Valdemar the Great

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Posted 06 March 2013 - 07:39 AM

* Here it is, if anyone wants to cheat:



:)

Life is a hideous business, and from the background behind what we know of it peer daemoniacal hints of truth which make it sometimes a thousandfold more hideous.

H. P. Lovecraft.


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