s leaders are seeking to bind themselves ever more strongly to western Europe by adopting the euro . Other countries in the European Union are relieved not to be part of the troubled currency club. But Latvian leaders have pressed for membership , convinced that giving up their currency, the lats, in favour of the euro will be a ticket to prosperity and protection. Earlier this month, EU finance ministers...
s mythical maiden soars skyward holding three golden stars. Nicknamed Milda, she stands at the top of the Freedom Monument, symbolising the Baltic country's hard-won liberty and independence. From next January Milda will become a more familiar face across Europe when her likeness is stamped on to €1 and €2 coins to mark Latvia becoming the 18th member of a single currency zone which may, or may not,...
s doubts on Latvian banks' large cache of foreign deposits The Baltic state of Latvia has got the go-ahead to join the euro next year, and will become the 18th country to adopt the single currency despite the eurozone crisis. The European commission and European Central Bank gave the green light on Wednesday for membership, making the country the second of the Baltic states, along with Estonia, to...
Study of labour conditions in countries including France, Italy and Germany suggests up to 880,000 people being exploited Governments across Europe are in a state of confusion and denial over the extent of forced labour within their own borders, contributing to hundreds of thousands of people remaining trapped in exploited, unpaid and dangerous working conditions, according to a new report . In a...
s new ventures in Austria and Baltic states are welcomed by City, but shares dip over acquisitions concern Sports Direct, the clothing retailer led by Newcastle United's owner, Mike Ashley, is making its biggest foray abroad to date with the acquisition of controlling stakes in Austrian and Baltic sports chains. The company has agreed to buy a 51% share in Austria's Sports Eybl & Sports Experts, known...
s politicians consider the geopolitical and economic benefits of closer ties with the European project or Moscow In a flea market in Moldova's capital you can buy busts of Lenin, furry Russian army hats and gold icons. Next door the Russian language theatre is staging several productions of Chekhov. Billboards in Cyrillic proclaim the sponsor: the local Russian embassy. Just round the corner, however,...
Ships and helicopters lead two separate operations as large sections of ice break away from shore and drift into gulf Latvia's rescue service said it had rescued more than 220 people who became stranded on large ice floes in two areas in the Gulf of Riga. The state fire and rescue Service spokeswoman, Viktorija Sembele, said boats, ships and helicopters were mobilised in the rescue operation after...