Report from the Commission. Thirteenth Report on the practical preparations for the future enlargement of the euro area.

Abstract

The Council decided on 9 July 2013 that Latvia fulfils the necessary conditions for the adoption of the euro1. Latvia will adopt the euro on 1 January 2014 ("€-day"), bringing the total number of Member States that have adopted the euro to eighteen. The conversion rate between the Latvian lats and the euro has been irrevocably fixed at 0.702804 Latvian lats to one euro2. The practical preparations for the changeover have entered the final phase. Euro banknotes and coins will acquire legal tender status on the day of euro adoption (so-called "big bang" changeover scenario). Following the first dedicated report of the Commission on Latvia's practical preparations for introducing the euro3, this Report assesses further progress made until end of October 2013. It addresses in particular the preparations for the introduction of euro cash, the measures put in place for protecting consumers in the changeover period, such as the "Fair Euro Introducer" campaign, and the communication campaign. The Commission Staff Working Document attached to this Report provides details on the preparations for the introduction of the euro in the remaining Member States that have not yet adopted the single currency and do not have a legal opt-out.