View source for User:Danish Expert/sandbox

{{User sandbox}}
<!-- EDIT BELOW THIS LINE -->


The chapter below is a direct copy of my previously uploaded "new version" (as of [http://en.wikipedia.org/enwiki/w/index.php?title=Latvian_euro_coins&oldid=544129476 16:19, 14 March 2013‎]) with a later reformulation of the 2nd+3rd+4th "introduction paragraph" into more neutral language on 16 March 2013. The idea is, that this material should either be copied into the [[Latvian euro coins]] article as a new "Convergence Status" chapter or into a subarticle (i.e. entitled [[Latvia and the euro]]). The appropriateness of displaying monthly data has been questioned at the [[Talk:Latvian euro coins#Latvia and the Maastricht criteria|article's talkpage]]. This sandbox has been created in order to still have visible content for the purposes of keeping the content visible while debating, and getting the opportunity to adjust the introduction lines ahead of the table, so that it satisfy the minds of the engaged wikipedians in the debate. All editors in the debate are of course allowed to visit this sandbox and upload their own suggestion for how the chapter should be.

== Convergence Status ==
The [[Maastricht Treaty]] originally required that all members of the [[European Union]] join the euro once certain [[Convergence criteria|economic criteria]] are met. In April 2012, when Latvia last time was officially evaluated by ECB, it met 3 out of the 5 criteria. Latvia has announced that they will request that another evaluation be conducted in March 2013.<ref name="LATPLAN">{{citeweb|url=http://www.euractiv.com/euro-finance/latvian-parliament-paves-way-eur-news-517513|title=Latvian parliament paves way to euro switch|date=2013-02-01|accessdate=2013-02-03|publisher=EurActiv}}</ref>  [[Prime Minister of Latvia|Latvian Prime Minister]] [[Valdis Dombrovskis]] stated in January 2013 that Latvia "are currently fulfilling the Maastricht [euro adoption] criteria with a considerable reserve, therefore I don't see any basis on which this convergence report would be negative."<ref name="LATPLAN"/>

The table below display an indication for Latvia's convergence status throughout the past year, based on ECB's official assesment method, where calculation of the monthly reference values for HICP inflation and interest rates (since the first values published by the ECB report for April 2012), all have been verified by the Polish Ministry of Finance. According to the table, the first assesment month where Latvia managed to indicate a full compliance with all criteria values was March 2013. Back in December 2012, the [[National Bank of Latvia|Latvian Central Bank]] claimed the country had fully complied with all convergence criteria since September 2012 (equal to the assement month in October 2012).<ref>{{cite web|url=http://www.kase.gov.lv/uploaded_files/Banneri/Latvia_Investor-_resentation_FINAL_Dec_2012.pdf|title=Republic of Latvia Investor Presentation (December 2012)|format=PDF|publisher=National Bank of Latvia|date=December 2012|accessdate=12 March 2013}}</ref> As the claim by the Latvian Central Bank was based on a different data approach for the fiscal criteria, where they compared "forecasted deficit and debt for the ongoing year (2012)", instead of adopting the ECB methods data approach where fiscal compliance is only judged upon "final deficit and debt data published by Eurostat for the last full calendar year (meaning 2011)", the conclusion from the central bank should however only be considered as being a forecast for what to expect, rather than an indication of how the compliance situation was for the specific month in concern when evaluated strictly according to the data approach as outlined by the published official ECB method.

:'''Note:''' According to the official ECB method a compliance towards the fiscal criteria shall always be measured according to whether or not an open ongoing EDP exists for the country (as defined by the EU treaty's [[Wikisource:Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy#Article 140|art.140 and 126(6)]] referral to the [[Wikisource:Consolidated protocols, annexes and declarations attached to the treaties of the European Union/Protocols#PROTOCOL (No 12) ON THE EXCESSIVE DEFICIT PROCEDURE|Protocol on the Excessive Deficit Procedure]]), meaning that a country need to comply with the fiscal criteria by its official fiscal data (published by the European Commission's statistical agency [[Eurostat]]) for the last full calendar year. As Latvia did not comply with the deficit criteria by its published 2011 fiscal data, their EDP was not abrogated throughout 2012,<ref name="Latvia's EDP status">{{cite web|title=Excessive deficit procedure for Latvia |url=http://ec.europa.eu/economy_finance/economic_governance/sgp/deficit/countries/latvia_en.htm |publisher=European Commission (Economic and Financial Affairs)| date=4 October 2011 |accessdate=12 March 2013}}</ref> and thus the country did not comply with the euro adoption deficit criteria throughout 2012. It shall be noted that the European Commission's latest economic forecast,<ref name="EC-winter-forecast 2013">{{cite web|title=European economic forecast - winter 2013 <!--|url=http://ec.europa.eu/economy_finance/publications/european_economy/2013/pdf/ee1_en.pdf-->|url=http://ec.europa.eu/economy_finance/eu/forecasts/2013_winter_forecast_en.htm |publisher=European Commission | date=22 February 2013 |accessdate=22 February 2013}}</ref> indicate that Latvia's EDP will be abrogated shortly after Eurostat publish the country's official deficit and debt data for fiscal year 2012, which according to the release calendar will happen on 22 April 2013.<ref>{{cite web|url=http://epp.eurostat.ec.europa.eu/portal/page/portal/release_calendars/news_releases|title=Release Calendar for Euro Indicators|publisher=Eurostat|accessdate=18 December 2012}}</ref>

According to the previously published "ECB method" being applied by the data table below (with the monthly reference values verified by the [[Ministry of Finance (Poland)|Polish Ministry of Finance]]), Latvia has indicated a full compliance with all [[Euro convergence criteria|Maastricht criteria]] since the data month February 2013, understood as being since the "assessment month" March 2013. The official confirmation about Latvia's potential compliance with all five criteria, will however only be known when published by the ordered ECB convergence report, which currently await Eurostat's publication of Latvia's finally recorded 2012 fiscal data on 22 April 2013.

{{trim|{{Euro convergence criteria|TOP}}}}
{{trim|{{Euro convergence criteria (2012)|REF}}}}
{{trim|{{Euro convergence criteria (2012)|LVA}}}}
|- bgcolor="#ececec" align="center"
| rowspan="2"| May 2012
| '''Reference values'''
|'''max. 3.1%'''<ref name="ECB reference values as per 30 Apr 2012">[http://www.archbip.mf.gov.pl/bip/_files_/euro/analizy/monitor/monitor_2012_06.pdf ECB reference values as per 30 Apr 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 May 2011 - 30 April 2012.|name="principals May 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (1.2%), Ireland (1.5%) and Slovenia (2.2%), with no outliers detected.|name="HICPOUT May 2012"|group=nb}}<br><small>(as of 30 Apr 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Spring 2012 Economic Forecast report.<ref name="EC Spring Forecast 2012">{{cite web|title=European economic forecast - spring 2012 |url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-1_en.pdf |format=PDF|publisher=European Commission | date=1 May 2012 |accessdate=1 September 2012}}</ref>|name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 30 Apr 2012)</small>
|'''max. 5.77%'''<ref name="ECB reference values as per 30 Apr 2012"/>{{#tag:ref||name="principals May 2012"|group=nb}}{{#tag:ref|As Ireland (4.46% above average) is part of a bailout program, and at the same time also suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), this country was excluded from the calculation of the reference limit for "long term interest rates" leaving the benchmark calculated on basis of Sweden (with a 12m-average interest rate of 2.11%) and Slovenia (with a 12m-average interest rate of 5.42%).|name="INTOUT May 2012"|group=nb}}<br> <small>(as of 30 Apr 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=#ff7f7f|4.0%
|bgcolor=yellow|3.5%
|bgcolor=lightgreen|42.6%
|bgcolor=lightgreen|2 May 2005
|bgcolor=lightgreen|5.65%
|- bgcolor="#ececec" align="center"
| rowspan="2"| June 2012
| '''Reference values'''
|'''max. 3.1%'''<ref name="ECB reference values as per 31 May 2012">[http://www.archbip.mf.gov.pl/bip/_files_/euro/analizy/monitor/monitor_2012_07.pdf ECB reference values as per 31 May 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 June 2011 - 31 May 2012.|name="principals Jun 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (1.1%), Ireland (1.5%) and Greece (2.1%), with no outliers detected.|name="HICPOUT Jun 2012"|group=nb}}<br><small>(as of 31 May 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Spring 2012 Economic Forecast report.<ref name="EC Spring Forecast 2012">{{cite web|title=European economic forecast - spring 2012 |url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-1_en.pdf |format=PDF|publisher=European Commission | date=1 May 2012 |accessdate=1 September 2012}}</ref>|name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 31 May 2012)</small>
|'''max. 3.98%'''<ref name="ECB reference values as per 31 May 2012"/>{{#tag:ref||name="principals Jun 2012"|group=nb}}{{#tag:ref|As Greece (16.13% above average) and Ireland (4.19% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.98%) as a benchmark country.|name="INTOUT Jun 2012"|group=nb}}<br> <small>(as of 31 May 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=#ff7f7f|3.7%
|bgcolor=yellow|3.5%
|bgcolor=lightgreen|42.6%
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|5.55%
|- bgcolor="#ececec" align="center"
| rowspan="2"| July 2012
| '''Reference values'''
|'''max. 3.0%'''<ref name="ECB reference values as per 30 Jun 2012">[http://www.archbip.mf.gov.pl/bip/_files_/euro/analizy/monitor/monitor_2012_08.pdf ECB reference values as per 30 Jun 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 July 2011 - 30 June 2012.|name="principals Jul 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (1.1%), Ireland (1.6%) and Greece (1.9%), with no outliers detected.|name="HICPOUT Jul 2012"|group=nb}}<br><small>(as of 30 Jun 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Spring 2012 Economic Forecast report.<ref name="EC Spring Forecast 2012">{{cite web|title=European economic forecast - spring 2012 |url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-1_en.pdf |format=PDF|publisher=European Commission | date=1 May 2012 |accessdate=1 September 2012}}</ref>|name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 30 Jun 2012)</small>
|'''max. 3.86%'''<ref name="ECB reference values as per 30 Jun 2012"/>{{#tag:ref||name="principals Jul 2012"|group=nb}}{{#tag:ref|As Greece (17.08% above average) and Ireland (3.84% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.86%) as a benchmark country.|name="INTOUT Jul 2012"|group=nb}}<br> <small>(as of 30 Jun 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=#ff7f7f|3.5%
|bgcolor=yellow|3.5%
|bgcolor=lightgreen|42.6%
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|5.48%
|- bgcolor="#ececec" align="center"
| rowspan="2"| August 2012
| '''Reference values'''
|'''max. 3.0%'''<ref name="ECB reference values as per 31 Jul 2012">[http://www.archbip.mf.gov.pl/bip/_files_/euro/analizy/monitor/monitor_2012_09.pdf ECB reference values as per 31 Jul 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 August 2011 - 31 July 2012.|name="principals Aug 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (1.0%), Ireland (1.6%) and Greece (1.8%), with no outliers detected.|name="HICPOUT Aug 2012"|group=nb}}<br><small>(as of 31 Jul 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Spring 2012 Economic Forecast report.<ref name="EC Spring Forecast 2012">{{cite web|title=European economic forecast - spring 2012 |url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-1_en.pdf |format=PDF|publisher=European Commission | date=1 May 2012 |accessdate=1 September 2012}}</ref>|name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 31 Jul 2012)</small>
|'''max. 3.74%'''<ref name="ECB reference values as per 31 Jul 2012"/>{{#tag:ref||name="principals Aug 2012"|group=nb}}{{#tag:ref|As Greece (17.92% above average) and Ireland (3.36% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.74%) as a benchmark country.|name="INTOUT Aug 2012"|group=nb}}<br> <small>(as of 31 Jul 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=#ff7f7f|3.3%
|bgcolor=yellow|3.5%
|bgcolor=lightgreen|42.6%
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|5.40%
|- bgcolor="#ececec" align="center"
| rowspan="2"| September 2012
| '''Reference values'''
|'''max. 3.0%'''<ref name="ECB reference values as per 31 Aug 2012">[http://www.mf.gov.pl/documents/764034/1002547/monitor_2012_10.pdf ECB reference values as per 31 Aug 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 September 2011 - 31 August 2012.|name="principals Sep 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (1.0%), Ireland (1.8%) and Greece (1.8%), with no outliers detected.|name="HICPOUT Sep 2012"|group=nb}}<br><small>(as of 31 Aug 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Spring 2012 Economic Forecast report.<ref name="EC Spring Forecast 2012">{{cite web|title=European economic forecast - spring 2012 |url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-1_en.pdf |format=PDF|publisher=European Commission | date=1 May 2012 |accessdate=1 September 2012}}</ref>|name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 31 Aug 2012)</small>
|'''max. 3.68%'''<ref name="ECB reference values as per 31 Aug 2012"/>{{#tag:ref||name="principals Sep 2012"|group=nb}}{{#tag:ref|As Greece (18.64% above average) and Ireland (3.06% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.68%) as a benchmark country.|name="INTOUT Sep 2012"|group=nb}}<br> <small>(as of 31 Aug 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=#ff7f7f|3.1%
|bgcolor=yellow|3.5%
|bgcolor=lightgreen|42.6%
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|5.31%
|- bgcolor="#ececec" align="center"
| rowspan="2"| October 2012
| '''Reference values'''
|'''max. 3.0%'''<ref name="ECB reference values as per 30 Sep 2012">[http://www.mf.gov.pl/documents/764034/1002547/monitor_2012_11.pdf ECB reference values as per 30 Sep 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 October 2011 - 30 September 2012.|name="principals Oct 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (0.9%), Greece (1.6%) and Ireland (1.9%), with no outliers detected.|name="HICPOUT Oct 2012"|group=nb}}<br><small>(as of 30 Sep 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Spring 2012 Economic Forecast report.<ref name="EC Spring Forecast 2012">{{cite web|title=European economic forecast - spring 2012 |url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-1_en.pdf |format=PDF|publisher=European Commission | date=1 May 2012 |accessdate=1 September 2012}}</ref>|name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the May 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 30 Sep 2012)</small>
|'''max. 3.66%'''<ref name="ECB reference values as per 30 Sep 2012"/>{{#tag:ref||name="principals Oct 2012"|group=nb}}{{#tag:ref|As Greece (18.92% above average) and Ireland (2.81% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.66%) as a benchmark country.|name="INTOUT Oct 2012"|group=nb}}<br> <small>(as of 30 Sep 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=lightgreen|2.9%
|bgcolor=yellow|3.5%
|bgcolor=lightgreen|42.6%
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|5.17%
|- bgcolor="#ececec" align="center"
| rowspan="2"| November 2012
| '''Reference values'''
|'''max. 2.9%'''<ref name="ECB reference values as per 31 Oct 2012">[http://www.mf.gov.pl/documents/764034/1002547/monitor_2012_12.pdf ECB reference values as per 31 Oct 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 November 2011 - 31 October 2012.|name="principals Nov 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (0.9%), Greece (1.4%) and Ireland (1.9%), with no outliers detected.|name="HICPOUT Nov 2012"|group=nb}}<br><small>(as of 31 Oct 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Autumn 2012 Economic Forecast report.<ref name="EC-autumn-forecast 2012">{{cite web|title=European economic forecast - autumn 2012 <!--|url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-7_en.pdf -->|url=http://ec.europa.eu/economy_finance/eu/forecasts/2012_autumn_forecast_en.htm |format=PDF|publisher=European Commission | date=7 November 2012 |accessdate=7 November 2012}}</ref>|name="2011 fiscal data from the Nov 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the Nov 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 31 Oct 2012)</small>
|'''max. 3.63%'''<ref name="ECB reference values as per 31 Oct 2012"/>{{#tag:ref||name="principals Nov 2012"|group=nb}}{{#tag:ref|As Greece (18.97% above average) and Ireland (2.59% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.63%) as a benchmark country.|name="INTOUT Nov 2012"|group=nb}}<br> <small>(as of 31 Oct 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=lightgreen|2.7%
|bgcolor=yellow|3.4%
|bgcolor=lightgreen|42.2%
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|4.99%
|- bgcolor="#ececec" align="center"
| rowspan="2"| December 2012
| '''Reference values'''
|'''max. 2.8%'''<ref name="ECB reference values as per 30 Nov 2012">[http://www.mf.gov.pl/documents/764034/1002547/monitor_2013_01.pdf ECB reference values as per 30 Nov 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 December 2011 - 30 November 2012.|name="principals Dec 2012"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (0.9%), Greece (1.2%) and Ireland (1.9%), with no outliers detected.|name="HICPOUT Dec 2012"|group=nb}}<br><small>(as of 30 Nov 2012)</small>
|'''max. 3.0%'''<br><small>(Fiscal year 2011){{#tag:ref|These values are final recorded data - as reported by the [[European Commission]]'s Autumn 2012 Economic Forecast report.<ref name="EC-autumn-forecast 2012">{{cite web|title=European economic forecast - autumn 2012 <!--|url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-7_en.pdf--> |url=http://ec.europa.eu/economy_finance/eu/forecasts/2012_autumn_forecast_en.htm |format=PDF|publisher=European Commission | date=7 November 2012 |accessdate=7 November 2012}}</ref>|name="2011 fiscal data from the Nov 2012 report"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Fiscal year 2011){{#tag:ref||name="2011 fiscal data from the Nov 2012 report"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 30 Nov 2012)</small>
|'''max. 3.61%'''<ref name="ECB reference values as per 30 Nov 2012"/>{{#tag:ref||name="principals Dec 2012"|group=nb}}{{#tag:ref|As Greece (19.01% above average) and Ireland (2.37% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.61%) as a benchmark country.|name="INTOUT Dec 2012"|group=nb}}<br> <small>(as of 30 Nov 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=lightgreen|2.5%
|bgcolor=yellow|3.4%
|bgcolor=lightgreen|42.2%
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|4.79%
|- bgcolor="#ececec" align="center"
| rowspan="2"| January 2013
| '''Reference values'''
|'''max. 2.8%'''<ref name="ECB reference values as per 31 Dec 2012">[http://www.mf.gov.pl/documents/764034/1002547/monitor_2013_02.pdf ECB reference values as per 31 Dec 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 January 2012 - 31 December 2012.|name="principals Jan 2013"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (0.94%), Greece (1.04%) and Ireland (1.92%), with no outliers detected.|name="HICPOUT Jan 2013"|group=nb}}<br><small>(as of 31 Dec 2012)</small>
|'''max. 3.0%'''<br><small>(Forecast of fiscal year 2012){{#tag:ref|These values are forecasts from the Autumn 2012 Economic Forecast of the [[European Commission]].<ref name="EC-autumn-forecast 2012">{{cite web|title=European economic forecast - autumn 2012 <!--|url=http://ec.europa.eu/economy_finance/publications/european_economy/2012/pdf/ee-2012-7_en.pdf--> |url=http://ec.europa.eu/economy_finance/eu/forecasts/2012_autumn_forecast_en.htm |format=PDF|publisher=European Commission | date=7 November 2012 |accessdate=7 November 2012}}</ref>|name="forecast Nov 2012"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Forecast of fiscal year 2012){{#tag:ref||name="forecast Nov 2012"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 31 Dec 2012)</small>
|'''max. 3.59%'''<ref name="ECB reference values as per 31 Dec 2012"/>{{#tag:ref||name="principals Jan 2013"|group=nb}}{{#tag:ref|As Greece (18.48% above average) and Ireland (2.15% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they were more than 2.0% higher), these two countries were excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.59%) as a benchmark country.|name="INTOUT Jan 2013"|group=nb}}<br> <small>(as of 31 Dec 2012)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=lightgreen|2.3%
|bgcolor=lightgreen|1.7% 
|bgcolor=lightgreen|41.9% 
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|4.57%
|- bgcolor="#ececec" align="center"
| rowspan="2"| February 2013
| '''Reference values'''
|'''max. 2.7%'''<ref name="ECB reference values as per 31 Jan 2012">[http://www.mf.gov.pl/documents/764034/1002547/monitor_2013_03.pdf ECB reference values as per 31 Jan 2012]</ref>{{#tag:ref|The reference values for HICP inflation and long-term interest rates are calculated based on the "calculation principle" outlined in the 2012 ECB Convergence Report,<ref name="2012 ECB Convergence Report">{{citeweb|url=http://www.ecb.int/pub/pdf/conrep/cr201205en.pdf|title=Convergence report 2012|date=May 2012|accessdate=2013-01-15|publisher=[[European Central Bank]]}}</ref> with the input of forecasted data for the sliding assessment year 1 February 2012 - 31 January 2013.|name="principals Feb 2013"|group=nb}}{{#tag:ref|The 3 best performing countries in regards to HICP inflation were Sweden (0.87%), Greece (0.93%) and Ireland (1.94%), with no outliers detected.|name="HICPOUT Feb 2013"|group=nb}}<br><small>(as of 31 Jan 2013)</small>
|'''max. 3.0%'''<br><small>(Forecast of fiscal year 2012){{#tag:ref|These values are forecasts from the Winter 2013 Economic Forecast of the [[European Commission]].<ref name="EC-winter-forecast 2013">{{cite web|title=European economic forecast - winter 2013 <!--|url=http://ec.europa.eu/economy_finance/publications/european_economy/2013/pdf/ee1_en.pdf--> |url=http://ec.europa.eu/economy_finance/eu/forecasts/2013_winter_forecast_en.htm |publisher=European Commission | date=22 February 2013 |accessdate=22 February 2013}}</ref>|name="forecast Feb 2013"|group="nb"}}</small>
|'''max. 60%<small>, or declining</small>'''<br><small>(Forecast of fiscal year 2012){{#tag:ref||name="forecast Feb 2013"|group="nb"}}</small>
|'''min. 2 years'''<br><small>(as of 31 Jan 2013)</small>
|'''max. 3.60%'''<ref name="ECB reference values as per 31 Dec 2012"/>{{#tag:ref||name="principals Jan 2013"|group=nb}}{{#tag:ref|As Greece (17.37% above average) and Ireland (1.99% above average) are both part of a bailout program, and both suffered from elevated interest rates "significantly above" the eurozone average (meaning they after a rounding of the values were equal to or above the 2.0% outlier limit), these two countries were therefore excluded from the calculation of the reference limit for "long term interest rates" leaving just Sweden (with a 12m-average interest rate of 1.60%) as a benchmark country.|name="INTOUT Feb 2013"|group=nb}}<br> <small>(as of 31 Jan 2013)</small>
|- align="center"
|style="text-align:left"|'''Latvia'''
|bgcolor=lightgreen|2.0%
|bgcolor=lightgreen|1.5% 
|bgcolor=lightgreen|41.9% 
|bgcolor=lightgreen|2 May 2005
|bgcolor=#ff7f7f|4.35%
|-
{{trim|{{Euro convergence criteria|REF}}}}
{{trim|{{Euro convergence criteria|LVA}}}}
{{trim|{{Euro convergence criteria|BOT}}}}

==References==
{{Reflist}}