Project Structure
To ensure an efficient euro implementation process in Latvia, the Steering Committee was established to select the euro changeover strategy, monitor the elaboration of the National Euro Changeover Plan, as well as co-ordinate and manage required activities.
The Committee is chaired by the State Secretary of the Ministry of Finance. The Steering Committee comprises chief executive officers from the Ministry of Finance, the State Chancellery, the Bank of Latvia and other institutions.
There are five working groups aiming at performing specific tasks directly subordinated to the Steering Committee:
- State Administration Working Group (conversion of payments in euro, assessment of laws and regulations, the state debt denomination issues, adjustment of statistics sector with Latvia introducing the euro);
- Money and Payment System Working Group (issues of the euro cash introduction, adjustment of payment systems and financial statistics for handling payments in euro);
- Financial System Working Group (money and securities markets, financial instruments, the issues of euro introduction in the insurance and pension fund sector);
- Economy: Non-financial Corporation and Consumer Working Group (studying the impact of the euro introduction on the relationship between non-financial corporations and consumers);
- Public Awareness and Communication Working Group (organising public awareness campaigns, including the development and updating of informational website, "Euro information help-desk" for the needs of individuals and companies).
The Euro Project Manager is responsible for the implementation of the Steering Committee's decisions, mutual co-ordination of working group activities as well as solution of problems related to the introduction of the euro.
The euro changeover process is monitored by the Cabinet of Ministers, receiving quarterly progress reports from the Steering Committee.
Informative reports on performed and planned tasks related to introduction of the single European currency in Latvia - home page of the Ministry of Finance
