Latvian euro coins Latvian euro coins Latvia replaced its previous currency, the lats, with the euro on 1 January 2014, after a European Union (EU) assessment in June 2013 asserted that the country had met all convergence criteria necessary for euro adoption. The adoption process began 1 May 2004, when Latvia joined the European Union, entering the EU's Economic and Monetary Union. At the start of 2005, the lats was pegged to the euro at Ls 0.702804 = €1, and Latvia joined the European Exchange Rate Mechanism (ERM ll), four months later on 2 May 2005. Latvia's Treaty of Accession to the European
Baltic Pipe On 2 May 2007, PGNiG and Energinet.dk, a Danish transmission system operator, which was taken over Danish natural gas transmission network from DONG, signed an agreement to explore the possibility of construction the Baltic Pipe. In August 2008, the Polish Government replaced PGNiG with the fully state-owned pipeline operator Gaz-System as the project partner. On 18 May 2009, the European Commission launched a call for proposals for grants in the framework of the European Energy Programme for Recovery. It proposed to allocate about €150 million for implementation of Skanled and Baltic Pipe projects. However, on 16 June 2009 Gaz-System suspended