Latvia on course for Eurozone membership – Reynders

Belgium’s foreign minister, Didier Reynders, believes Latvia is heading in the right direction in its bid to join the eurozone, The Baltic Course reports. “Latvia is on the right track. We hope that Latvia will be able to join the eurozone next year. We are also awaiting reports from the European Central Bank and the European Commission, and we would gladly accept Latvia as a eurozone member,” Reynders told members of the press after a meeting with his Latvian counterpart Edgars Rinkevics in the capital, Riga. Asked to give advice on how Latvian politicians might be able to convince residents to be in favour of the euro, Reynders said it was important for people to understand that a balanced budget is necessary for any country. He added that it was also important to explain that there is no crisis within the eurozone, only in separate eurozone member states. “Politicians must be able to explain that becoming a eurozone member means progress, but countries must also be capable of retaining their competitiveness. The goal is not just to become a eurozone member, but to retain a high international standard in your country.” Earlier, he read a lecture on the euro at Riga's  Stockholm School of Economics.