Latvia to Contribute to Bailouts Upon 2014 Euro Entry, FAZ Says

Latvia plans to join the euro area in 2014 and is willing to pay its share in any future bailouts of indebted nations, central bank Governor Ilmars Rimsevics told Frankfurter Allgemeine Zeitung in an interview.

“I believe that the latest measures in Italy, Spain and Ireland will be successful but even if new difficulties should arise, we are willing to make our contribution, even if it is relatively small,” Rimsevics was quoted as saying. “It would be naive to think that a crisis in the euro area won’t spread to neighboring countries.”

It was a “big mistake” for Greece to delay adjustment measures, Rimsevics said. “Unfortunately, there is little hope” for the country as a result, he said, according to the newspaper.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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