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Official Journal of the European Union
18.7.2013
REGULATIONS
COUNCIL REGULATION (EU) No 678/2013
of 9 July 2013
amending Regulation (EC) No 974/98 as regards the introduction of the euro in Latvia
THE COUNCIL OF THE EUROPEAN UNION,
(4) The
introduction
of
the
euro
in
Latvia
requires
the
extension to Latvia of the existing provisions on the
Having regard to the Treaty on the Functioning of the European
introduction of the euro set out in Regulation (EC) No
Union, and in particular Article 140(3) thereof,
974/98.
Having regard to the proposal from the European Commission,
(5) Latvia’s
National
euro
Changeover
Plan
specifies
that
euro
banknotes and coins should become legal tender in that
Having regard to the opinion of the European Central Bank,
Member State on the day of the introduction of the euro
as its currency. Consequently, the euro adoption date and
Whereas:
the cash changeover date should be 1 January 2014. No
‘phasing-out’ period should apply.
(1) Council
Regulation
(EC)
No
974/98
of
3
May
1998
on
the introduction of the euro ( 1 ) provides for the substi
(6) The
Annex
to
Regulation
(EC)
No
974/98
should
tution of the euro for the currencies of the Member
therefore be amended accordingly,
States which fulfilled the necessary conditions for the
adoption of the euro at the time when the Community
entered the third stage of economic and monetary union.
HAS ADOPTED THIS REGULATION:

(2) According
to
Article
4
of
the
2003
Act
of
Accession,
Article 1
Latvia is a Member State with a derogation as defined in
The Annex to Regulation (EC) No 974/98 is amended by
Article 139(1) of the Treaty on the Functioning of the
inserting the following row in the table between the entries
European Union.
for Cyprus and Luxembourg.
(3) Pursuant
to
Council
Decision
2013/387/EU
of
9
July
2013 on the adoption by Latvia of the euro on
‘Latvia 1
January
2014 1
January
2014 No’
1 January 2014 ( 2 ), Latvia fulfils the necessary conditions
for the adoption of the euro and the derogation in favour
Article 2
of Latvia is to be abrogated with effect from 1 January
2014.
This Regulation shall enter into force on 1 January 2014.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 9 July 2013.
For the Council
The President
R. ADIUS
( 1 ) OJ L 139, 11.5.1998, p. 1.
( 2 ) See page 24 of this Official Journal.

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