Analytics, Direct Speech, EU – Baltic States, Financial Services, Latvia, Legislation

The letter has been signed by ex-President Vaira Vike-Freiberga, academician Janis Stradins, University of Latvia Rector Marcis Auzins, Latvian Employers' Confederation President Vitalijs Gavrilovs, writer Anna Zigure, researcher Deniss Hanovs, academician Talavs Jundzis, Jazeps Vitols Latvian Academy of Music Rector Artis Simanis, academician Ivars Knets, painter Dzemma Skulme, composer Peteris Vasks, film director Dzintra Geka, poet Knuts Skujenieks, Latvian Academy of Sciences Chairman, academician Andrejs Silins, European Movement in Latvia President Aivars Gobins.

The letter says that the agreement on Latvia's accession to the European Union meant not just the country's duty to join the EU but also to join the European Economic and Monetary Union, replacing the lat with the euro.

The letter emphasizes Latvia's resolve, and says, commenting on the various activities aimed at organizing a referendum on the euro, that to these campaigners "the notion of keeping a promise is foreign and insignificant." Latvians are known to be pragmatic and prudent when they have to make an important decision, which is what they showed on September 20, 2003 when the nation voted for Latvia's accession to the EU. "This should be kept in mind as the time of the adoption of the euro draws nearer, and the nation should say a firm 'yes' to the euro," says the letter.

"The lat has been pegged to the euro for more than eight years now, and changing the lats to the euro when Latvia's residents travel, or buy or sell goods and services abroad, means additional costs. Although the lat is the legal tender in Latvia, almost 80 percent of bank loans in Latvia have been issued in the euro – which means that they have to be repaid in the euro too. Whereas how much the arrival of the euro will affect prices is up to Latvians' integrity, to themselves and other people," says the letter.

The letter also says that euroskeptics often call the lat a symbol of national identity. "However, the lat, kroon, frank or gulden is just a sign characterizing a period in history, not the identity of the nation or a characteristic thereof. It is for the preservation of the identity that Latvia needs to be a member of Europe and, therefore, of its monetary union. This will help Latvia preserve its identity at a time when borders are erased, distances grow shorter, international cooperation is going strong, the Latvian economy is based on goods with high added value and services on exports."

At the same time, the authors of the letter say Latvians must realize what is their true identity.

"First and foremost, it is based on cultural values and traditions, cherished in Latvia and beyond. If Latvians cannot or do not want to protect their national identity – the language, culture, traditions – the lat will not do this. Because money is primarily a means of payment to determine the value of goods and services. We must realize that we will not gain anything without giving something back. Likewise, we will not exist unless we change with the time and the rules it dictates," says the letter.

The authors of the letter urge top state officials to use all instruments they have at their disposal to ensure that these principles are upheld. "We ask you not to tolerate manipulation with economic matters that are of national importance," emphasizes the letter.