1st of January - Eurozone joined Latvia!

Meeting of Euro project Steering Committee

Ministry of Finance, 30.08.2012

On 29 August 2012 the regular meeting of the Euro Project Management Committee was held and the following issues were discussed:

1. There was taken the note of the status report about the proposals for amendment to Oder No 308 of the Prime Minister of July 18, 2005 “On establishing the management committee”, Informative report of the Management Committee “On tasks accomplished in the time period from February 1, 2012 till July 31, 2012 and tasks planned in the next reporting period in order to introduce the single European currency in Latvia”  and amendments of the Euro Project Working Group to the Latvian National Euro Changeover Plan. There was taken into consideration the plan to submit them further to the Cabinet of Ministers for approval.

2. There was taken note about the euro cost issue, that includes the costs of the Ministry of Economics for non-financial sector acitivities , the Ministry of Transport costs for JSC "Latvijas Pasts" cash changeover activity in selected post offices, the Ministry of the Interior costs for the additional security measures and costs to ensure the euro project communication. For the upcoming there was postponed the cost issue affecting information systems adjustment to the euro.

3. There was discussed the issue of the adjustment of the accounting systems of the ministries and other central state institutions. Euro project manager informed about the technological system customization scenarios and the fact that the using of the conversion of the database is a potentially convenient scenario for small users (with the manual), but the proposed scenario for the development of time parameters, would be convenient for corporate users of the system. It was agreed to continue close cooperation with the system developers, providing all the practical information necessary for euro adoption. For further in-depth study Management Committee instructed the Euro project manager till 4 September to gather accounting systemt contracts from the ministries and other central public authorities and more detailed information about the requested funding.

4. There was discussed issue of municipal information systems adjustment. It was agreed to continue close cooperation with the Latvian Association of Local Governments, including exchange of all necessary information in the context of the euro introduction withing municipalities.