Latvia and the EU

Latest business news about Latvia and the European Union.

Brussels to probe Latvian bank sale plans — 26 January 2012, 16:23 CET

The European Commission said Thursday it was launching a probe into state support for Latvia's Hipoteku un Zemes Banka (Mortgage and Land Bank, MLB) ahead of an eventual sell-off of its commerical assets.

Discipline, deep pockets cure for eurozone woes: Latvian PM — 15 January 2012, 18:22 CET

European Union states must balance their budgets and ready huge emergency funds if they are to restore the faith of the financial markets, according to Latvian Prime Minister Valdis Dombrovskis.

Brussels presses Baltic states on rail plan — 13 January 2012, 16:43 CET

European Union transport commissioner Siim Kallas on Friday urged the Baltic states to press ahead with a planned a high-speed railway that will boost their links with the rest of the 27-nation bloc.

Latvian MPs nix Russian language, paving way to plebiscite — 22 December 2011, 17:01 CET

Lawmakers in European Union member Latvia rejected a motion Thursday to enshrine Russian as the second official state language after Latvian in the ex-Soviet Baltic state's constitution.

European budget rules must be obeyed: Sweden — 28 November 2011, 20:00 CET

Swedish Foreign Minister Carl Bildt defended the European single market Monday but warned that more strident budget supervision and regulation by Brussels only made sense if the rules already in place are obeyed.

Financial levy is payback time: EU tax chief — 21 November 2011, 14:05 CET

Controversial plans for a European Union financial transactions levy are justified in view of help from governments for banks, the bloc's tax chief Algirdas Semeta said on Monday.

Latvia bailout example for Europe: European Commission — 03 November 2011, 16:45 CET

The European Commission said on Thursday that Latvia's three-year, 7.5-billion-euro bailout programme, due to wind up next month, was an example for the rest of the European Union.

Denmark to push EU economic shake-up when it leads bloc: PM — 28 October 2011, 16:08 CET

Denmark aims to bolster efforts to get the European Union's economic house in order when it takes the helm of the 27-nation bloc next year, Prime Minister Helle Thorning-Schmidt said on Friday.

EU shouldn't lose focus on ex-Soviet bloc: Latvian PM — 30 September 2011, 01:00 CET

Amid the Arab Spring, the EU should not lose focus on spurring reform and building ties with ex-Soviet states, Latvian Prime Minister Valdis Dombrovskis said Thursday.

Austerity only way forward for eurozone: Latvian PM — 29 September 2011, 22:02 CET

Greece and other debt-wracked eurozone nations have no alternative to austerity, according to Latvian Prime Minister Valdis Dombrovskis, who steered his country out of the world's deepest recession.

Latvia's pro-Russian leader urges euro referendum — 19 September 2011, 16:33 CET

A pro-Russian party which won Latvia's general election but was unlikely to find coalition partners to govern, Monday urged a referendum on joining the crisis-mired eurozone.

Latvia criticises ECB inflation rules for eurozone hopefuls — 30 June 2011, 17:46 CET

Latvian Prime Minister Valdis Dombrovskis criticised the European Central Bank Thursday for the way it applies rules on inflation for would-be eurozone members such as his own country.

Latvian workers won't flood Germany, Austria: minister — 28 April 2011, 20:04 CET

The opening of German and Austrian labour markets to workers from eastern European Union member states will not mean an avalanche of migrants from Latvia, Finance Minister Andris Vilks said Thursday.

EU must step up bloc-wide energy policy drive: Latvia — 15 March 2011, 22:33 CET

The European Union must step up efforts to create a bloc-wide energy policy, a move which is crucial for its member states' economic security, Latvia's President Valdis Zatlers said Tuesday.

EU spotlights Baltic rail-freight firms in anti-trust probe — 10 March 2011, 16:05 CET

The European Commission announced Thursday that it was probing rail-freight companies in the Baltic states suspected of violating competition law.

Latvia pledges to help Armenia's EU drive — 09 March 2011, 14:21 CET

Latvia pledged Wednesday to lend its expertise to help fellow former Soviet republic Armenia follow its path into the European Union.

Polish EU leadership key for ex-communist bloc, Latvia says — 18 February 2011, 15:05 CET

Poland's looming leadership of the European Union will be crucial for fellow ex-communist nations, Latvia's Foreign Minister Girts Valdis Kristovskis said Friday.

EU extends Austrian and Latvian bank support schemes — 25 June 2010, 19:09 CET

The European Commission has extended until the end of 2010 an aid scheme for credit institutions in Austria and a Latvian bank guarantee scheme.

EU okays Latvian state aid for exporting firms — 10 June 2010, 23:33 CET

The European Commission has authorised, under EU State aid rules, a measure adopted by Latvia to limit the adverse impact of the current financial crisis on exporting firms.

Representation of the European Commission in Latvia — 18 November 2009, 22:30 CET

Contacts of the European Commission representation in Latvia.

Latvia: Economy Overview — 02 December 2010, 13:36 CET

Latvia's economy experienced GDP growth of more than 10% per year during 2006-07 but entered a severe recession in 2008 as a result of an unsustainable current account deficit and large debt exposure amid the softening world economy.

Latvia Investment Climate 2009 — 18 November 2009, 22:30 CET

The Latvian government actively encourages foreign direct investment, and works with investors to improve the country's business climate. In keeping with European Union and World Trade Organization requirements, there is no screening of foreign investment. The government continually strives to bring Latvian economic institutions, laws and regulations into conformity with EU directives.

Setting up a business in Latvia — 18 November 2009, 22:30 CET

An overview of the process of starting a new business in Latvia.

Access to finance — 18 November 2009, 22:30 CET

During economic growth in Latvia the most popular method of financing was bank loans. After Latvia joined the European Union businesses actively applied for EU funding. The Ministry of Economics is in charge of defining and coordinating government assistance policy for businesses.

Commission recommends 2012 for correction of Latvia's excessive deficit - briefing — 02 July 2009, 12:15 CET

The European Commission on 2 July concluded that Latvia is running an excessive deficit under Article 104.7 of the EU Treaty and has proposed a deadline for its correction.