Latvia's Ministry of Finance previewed the Eurogroup and Economic and Financial Affairs Council (ECOFIN) meetings in Luxembourg on 19–20 June, setting out Latvia’s positions on Bulgaria’s prospective entry to the euro area, the digital euro and the EU Customs Union reform package. Latvia is represented by State Secretary Baiba Bāne and Deputy State Secretary for Financial Policy Līga Kļaviņa. Eurogroup ministers are due to discuss Bulgaria’s convergence report, which will determine the country’s accession to the euro area from 1 January 2026, with the formal legislative package to be approved at ECOFIN. Ministers will also be briefed on the International Monetary Fund’s Article IV report on euro area policies, following consultations held in May; the IMF projects 1.2% growth in the euro area and declining inflation, while stressing reforms to create fiscal space and structural changes in tax policy, capital markets and labour mobility. In the enlarged Eurogroup format, ministers will take stock of progress on the digital euro, which remains in a preparatory phase while the Council debates its legal framework; Latvia supports rapid progress and highlighted open issues including the remuneration model for distribution, holding limits and the need to strengthen cash availability alongside the digital euro, with particular emphasis on resilience to ensure payment continuity in emergencies. At ECOFIN, the Polish Presidency will present progress on the Customs Union reform package, described as the most far-reaching reform since 1968, including plans for an EU Customs Data Hub and an EU Customs Service. Latvia’s priorities include centralised data governance, clear allocation of EU and member state competences, a balanced e-commerce regime and practically implementable rules, and it signalled a preference for moving quickly into trilogue negotiations with the European Parliament to reach a provisional agreement and adopt the reform.
Ministry of Finance (Latvia) 2025-06-19
Latvia's Ministry of Finance outlines priorities for Eurogroup and ECOFIN discussions on Bulgaria’s euro adoption, the digital euro and Customs Union reform
Latvia's Ministry of Finance outlined its positions for the upcoming Eurogroup and ECOFIN meetings, focusing on Bulgaria's euro area accession, the digital euro, and EU Customs Union reform. Key discussions include Bulgaria's convergence report, the IMF's Article IV report on euro area policies, and progress on the digital euro's legal framework. At ECOFIN, Latvia emphasized priorities such as centralized data governance and a balanced e-commerce regime in the Customs Union reform, advocating for swift trilogue negotiations with the European Parliament.