Latvia is officially the eighteenth Euro area member state. The country introduced the european currency the 1st of January, and next thursday in Riga will be hold the celebrations for the historical event, both for Latvia and for European Union. For Latvia, after a cold war spent in the eastern bloc and after decades of communism and russian rule, the adoption of the euro represents the pick of the political and historical rebirth together with the beginning of the euro era; for the European Union the arrival of Latvia into the Europe-wide currency bloc represents another remarkable step towards a stronger integration. In Riga as well as in Brussels the political leader are celebrating this new chapter of the european history. The adoption of the euro «is a big opportunity for Latvia’s economic development», said the country’s acting prime minister, Valdis Dombrovskis, withdrawing the first 10-euro banknote. «For Latvia it is the result of impressive efforts and the unwavering determination of the authorities and the Latvian people», said European Commission president José Manuel Barroso, happy for the latvian performance of last hours. In fact, according to a EU Commission survey, by the end of Thursday 2 January, 30 % of payments in shops were being made in euro only and 94 % of customers were getting their change in euro. Furthermore «no major problems were observed in banks or in the retail sector». Latvia will conclude the changeover period in two weeks. National currency Lat recall will run until the end of the first half of the month: it means that from Thursday 16 January the euro will be the only circulating currency in Latvia. In Brussels they have no doubts: «Thanks to careful preparations, the start of the changeover has been successful». Into the Baltic republic, on the contrary, there is concern among the populations: part of Latvia’s two million people fear prices rise because of the introduction of the new currency.
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