Foto: Raimo Lielbriedis, F64
From what I understand, public support for joining the euro in 2014 is currently far from Lukashenko-type percentages but the process is nevertheless on track. I thought I would update with the most recent numbers plus a take on how realistic it is that Latvia will fulfil the Maastricht convergence criteria and actually join by 1 January 2014.
Of the five criteria Latvia has no problem with exchange rate, public deficit or public debt (see e.g. the September newsletter from Bank of Latvia - should soon appear here).
As for inflation Latvia currently (August 2012) does not qualify as is seen from Figure 1 - the average of the three lowest rates; those of Sweden, Ireland and Greece, plus 1.5 percentage points equals 3.0% which Latvia misses by a whisker.
Figure 1: Maastricht inflation criterion, August 2012
