Latvia and the EU

Latest business news about Latvia and the European Union

• Latvia country profile

Commission recommends 2012 for correction of Latvia's excessive deficit - briefing — 02 July 2009, 13:15 CET

Latvia is a member of the European Union

EU tells Latvia correct deficit by 2012 — 02 July 2009, 23:14 CET

The European Commission called on Latvia on Thursday to cut its huge budget deficit to an EU limit by 2012 as it approved a desperately needed instalment of loans to the crisis-stricken country.

EU set to unblock bailout cash for Latvia — 26 June 2009, 23:57 CET

The European Commission will hand cash-strapped Latvia the second instalment of a stalled bailout package in the coming weeks, after approval by member states' experts, a spokesperson said Friday.

Recession-plagued Latvia to hit bottom this winter: minister — 19 June 2009, 23:05 CET

Suffering the deepest recession in the entire European Union, Latvia will hit bottom this winter, the Baltic nation's Economy Minister Arits Kampars said Friday.

Latvians rally against harsh budget cuts — 18 June 2009, 18:33 CET

Thousands of Latvians rallied Thursday in their capital as trade unions stepped up their battle against an austerity drive in an EU member nation trying to stave off bankruptcy.

Lithuania to cut benefits, pay, hike VAT to fight crisis — 17 June 2009, 20:01 CET

The Lithuanian government agreed a new round of austerity measures on Wednesday, Prime Minister Andrius Kubilius said, as the finance ministry warned the economy could contract by 18.2 per cent this year.

Latvian minister quits over austerity drive — 17 June 2009, 19:43 CET

Latvia's health minister resigned on Wednesday, strongly attacking crisis austerity measures, but a government spokeswoman said that this would not undermine Riga's five-party governing coalition.

Latvia cuts budget, PM says 'bankruptcy' threat gone — 17 June 2009, 00:03 CET

Latvia has escaped bankruptcy, its prime minister insisted Tuesday, as the recession-hit EU state's parliament approved deep spending cuts to win a crucial tranche of an international bailout.

Latvia sees spending deficit leaping to 11.6 per cent of GDP — 15 June 2009, 16:42 CET

Overall deficit spending in crisis-hit Latvia will be more than double the limit agreed with international lenders as part of a 7.5-billion-euro bailout, Latvia's finance minister said on Monday.

Latvia declares escape from 'bankruptcy' — 12 June 2009, 23:27 CET

Latvia said on Friday it had staved off bankruptcy by new sharp cuts in public spending to meet international bailout conditions amid the deepest recession in the European Union.

EU urges Latvia to pass budget cuts in exchange for loans — 10 June 2009, 17:53 CET

The European Commission urged Latvia on Wednesday to pass planned austerity budget cuts in exchange for desperately needed loans, warning that there was no other alternative.

EU sees Latvian budget cuts paving way for loans — 09 June 2009, 21:49 CET

Latvia should receive a desperately needed tranche of international bailout loans in the coming weeks if Riga pushes ahead with promised austerity budget cuts, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said on Tuesday.

Latvia to slash budget by 10 pct: PM — 08 June 2009, 20:50 CET

Latvia is set to slash its budget by 10 percent in a drive to meet the terms of an international bailout for the recession-hit Baltic state, the prime minister said Monday.

Right-wing party wins EU vote in Latvia — 08 June 2009, 00:01 CET

The right-wing Civic Union party won the European Parliament vote in crisis-hit Latvia taking 24.32 percent of the vote, according to preliminary results issued by the Central Election Commission Sunday.

Russian minority left-wing tops Latvia EU vote: exit polls — 07 June 2009, 00:53 CET

Left-wing parties rooted in the ethnic Russian minority were among the top performers in European parliamentary elections in recession-hit Latvia, while a newborn government party also made major strides, exit polls indicated Sunday.

Recession casualty Latvia faces key election test — 07 June 2009, 00:13 CET

Latvia's government Saturday faced its first ballot-box test since the Baltic state fell into the EU's deepest recession, as voters went to the polls in local and European Parliament elections.

Recession-hit Latvia government faces key poll test — 06 June 2009, 11:29 CET

Latvia's government Saturday faced its first ballot-box test since the Baltic state fell into the EU's deepest recession, as voters went to the polls in local and European Parliament elections.

EU's largest Russian minority not entirely at home in Latvia — 05 June 2009, 08:29 CET

Latvia is home to the European Union's largest Russian minority and many believe they get a raw deal in the former Soviet republic in the Baltic region.

Latvia sells nearly EUR 4 million debt day after failed auction — 04 June 2009, 16:58 CET

The treasury of crisis-hit Latvia said on Thursday it had sold one-month debt worth 2.75 million lats worth (3.86 million euros, 5.5 million dollars) in a direct offer one day after a failed sale of treasury bills spooked markets and fuelled devaluation fears.

EU Commissioner urges Latvia to do more to slash deficit — 04 June 2009, 18:51 CET

EU Economic Affairs Commissioner Joaquin Almunia urged Latvia on Thursday to do more to slash its ballooning budget deficit as the Baltic country struggles with a severe financial crisis.

Latvia sees no devaluation, euro entry in 2013 soonest: PM — 03 June 2009, 18:48 CET

Latvian Prime Minister Valdis Dombrovskis said Wednesday his crisis-hit country would adopt the euro in 2013 at the earliest and strongly ruled out a devaluation of the Latvian currency for social reasons.

Economy crisis forces rethink on Latvia bailout: IMF — 28 May 2009, 23:06 CET

The deepening economic crisis in Latvia is forcing lenders to rethink the terms of a rescue package for the recession-hit Baltic state, an International Monetary Fund official said Thursday.

Latvia pushing to change IMF bailout terms — 14 May 2009, 17:58 CET

Crisis casualty Latvia is still trying to renegotiate the terms of an international package intended to rescue its rapidly-sinking economy, Prime Minister Valdis Dombrovskis said on Thursday.

Latvia must reform or risk losing bailout cash: EU — 07 May 2009, 01:10 CET

Crisis-hit Latvia risks losing the next tranche of an IMF-led loan should it fail to adopt deep structural reforms, the EU's top monetary official said Wednesday in Riga.

Spain's King Juan Carlos visits Latvia — 05 May 2009, 17:05 CET

Spain's King Juan Carlos and Queen Sofia arrived in Latvia on Tuesday on the second leg of a tour of the three EU Baltic states which joined the European Union in 2004.