History of the euro adopting the currency on that date. In 2013 Latvia gained the support of the European Commission, Central Bank and Parliament for accession on 1 January 2014 with Latvia adopting the currency on that date. On 23 July 2014 Lithuania became the last Baltic state to gain permission to join the euro, which was adopted on 1 January 2015. The chart below provides a full summary of all applying exchange-rate regimes for EU members, since the European Monetary System with its Exchange Rate Mechanism and the related new common currency ECU was born on 13 March 1979. The euro replaced the
Currency intervention manipulations. As the financial crisis of 2007–08 hit Switzerland, the Swiss franc appreciated "owing to a flight to safety and to the repayment of Swiss franc liabilities funding carry trades in high yielding currencies." On March 12, 2009, the Swiss National Bank (SNB) announced that it intended to buy foreign exchange to prevent the Swiss franc from further appreciation. Affected by the SNB purchase of euros and US dollars, the Swiss franc weakened from 1.48 against the euro to 1.52 in a single day. At the end of 2009, the currency risk seemed to be solved; the SNB changed its