Leaving the year 2014 with a new European Parliament, a new European Commission, a new EU Council president and a new High Representative for Foreign Relations and Security Policy, the beginning of 2015 was marked with new developments for the EU. As of 1 January 2015, Latvia took over the Presidency of the EU and Lithuania joined the Eurozone. Since the enlargement of the EU to Central and Eastern European countries, it is the sixth time that an Eastern European country takes the Presidency of the Council of the EU. Furthermore, taking into account the fact that the former Prime Minister of Poland Donald Tusk is now the President of the EU Council (the institutional body which comprises EU Heads of State and Government), it is thus possible to add that the influence of new member states within EU institutions has been increasing in the last years.

New President of the Council of the EU: Latvia

Latvia took over the Presidency of the Council of the EU from Italy on the 1^st January 2015 for a period of 6 months. Latvia, which has joined the EU in 2004, in its 10^th year anniversary of being a member state takes over the round presidency for the first time. Since the 2004 enlargement, it is the sixth time that an Eastern European country holds the Presidency of the Council of the EU.

Within the sixth month period of Latvia’s Presidency of the Council of the EU, the priorities of Latvia are identified in line with the Europe 2020 Strategy as the adaptation of the EU to global competition, the reduction of structural problems such as unemployment at the EU level and to take strategic steps in order to promote economic growth and stability. Furthermore, within international crises regions and in other issues, it is envisaged to strengthen the EU’s global role.

New Member of the Eurozone: Lithuania

With the beginning of 2015, Lithuania entered the Eurozone and thus currently, the number of EU Member States using the single currency has increased to 19. Lithuania is the last Baltic country (following Estonia and Latvia) to enter the Eurozone. Within the framework of the 2004 enlargement and of the 10 countries that had joined the EU, Lithuania is the seventh country to join the Eurozone (after Slovenia, Greek Administration of Southern Cyprus, Malta, Slovakia, Estonia and Latvia).

As is known, in order for a member state to join the Eurozone, along with political will, a variety of economic criteria must be implemented. As such, the candidate countries are expected that their budget deficit is not above 3% of the GDP, public debt should not exceed 60% of the GDP and inflation should not exceed 1,5% of the average rate of the three EU Member States with the lowest inflation over the previous year.

2015 AS THE 10^th YEAR OF TURKEY-EU ACCESSION NEGOTIATIONS

In 2015, the year Turkey will be leaving 10^th year of accession negotiations behind, the accession negotiations between Turkey and the EU started in 2005 will remain their importance. In this regard, it is of significance to recall the stagnation in the accession process has been tackled as of the last quarter of 2013. Furthermore, with Turkey taking the Presidency of the G-20, 2015 is expected to be a more active year with regard to Turkey-EU relations and Turkish foreign policy in general compared to previous years.

Keeping in mind that Latvia’s support for Turkey’s EU accession, the agenda for 2015 is likely to be filled with the following developments:

• The potential for new chapters to be opened to negotiations in Turkey-EU accession process;

• The ongoing visa liberalisation dialogue regarding Turkish citizens;

• The deepening of trade relations within the framework of the Customs Union revision discussions.

For more information on Latvia’s Presidency of the Council of the EU which has started on the 1^st January 2015, please see.