THE 28 VISIONS OF EUROPE: VIEW FROM LATVIA

"Latvia conceptual vision of the European Union is that of an economically strong and politically stable union capable of protecting its member states’ interests in all areas in the global arena, whilst preserving the European Union as a community of nation states in which Latvia, along with other countries, can retain its national foundations.

Latvia is in favour of creating a Banking Union that would include the following three elements: a single supervisory mechanism for credit institutions, a European deposit guarantee fund and a uniform resolution mechanism. A short-term priority in the process of the completion of EMU is to finalise and introduce the new legal framework for economic governance as well as ensuring that the single supervisory mechanism and, following that, the resolution mechanism is also put in place.

Upon acceding to the single European currency, Latvia wishes to see a stable and strong European Monetary Union, the completion of which would facilitate the reduction of socio-economic differences between the EU member states and regions.

Latvia advocates strongly for the involvement of national parliaments.

One of Latvia’s goals is to strengthen cooperation with the Baltic states, the Nordic countries, Poland and Germany seeking common platforms in shaping the future of the European Union, explaining and defending the position within the multiannual budget, as well as finding points of intersection for the promotion of foreign policy issues important for Latvia, for instance, the Eastern Partnership Initiative.

Latvia retains its focus on the protection of Latvia’s interests in the European Union through strengthening the fundamental freedoms offered by the single market all over the European Union in order to bring closer the vision of a genuinely integrated European Union, free in terms of its internal trade, through advocating the achievement of favourable conditions in negotiations on the EU’s Multiannual Financial Framework for 2014-2020, and during preparations for the Latvian Presidency of the Council of the EU in 2015.

Latvia retains a high level of integration with the European Union member states in promoting growth, domestic and foreign trade, enhancing energy security, building transport and energy infrastructure, and in the field of education and culture. In the nearest decades this will bolster objective interests of the Latvian state in building an even better model of integration with the European Union partners. No third country or groups of countries can offer a sustainable alternative for pursuing Latvia's national interests to the full extent. Thus Latvia is vitally interested in dealing with the consequences of the crisis within the European Union framework. Any other development within the EU, namely, a fragmentation of the union, and persisting economic, financial and political difficulties will have a direct negative effect on Latvia's growth possibilities.

Latvia still regards the European Union as a voluntary union of nation states, based on solidarity and shared values. Latvia will continue supporting a deeper integration among all the European Union member states trying to avoid the creation of groups at different stages of integration and a multi-speed Europe, which could lead to a split between the European Union countries with negative economic and financial consequences for the continent as a whole. At the same time, should separate member states advance towards a closer integration, Latvia wishes to be in the core of more closely integrated states.

Latvia is interested in promoting a common EU approach in the relations with Russia and will stand up for a balanced progress in all agenda points, including the New Agreement, addressing modernisation, energy and frozen conflicts, the visa dialogue, a dialogue on the matters of human rights and the rule of law, and others. It is in Latvia's interests to achieve that the Russian Federation consistently complies with its WTO obligations and refrain from introducing new protectionist measures which could potentially harm the interests of Latvia's businesses".