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BNS - The president of the European Central Bank (ECB), Jean-Claude Trichet, told journalists on Thursday that he is confident about the strength of the Baltic countries in holding their currencies stable.
"I'm confident that the Latvian government will make the right decisions internally without changes in the currency," Trichet said in his answer to a question from a Swedish journalist about a possible devaluation in Latvia.
Answering another question, he said the ECB was keeping a close eye on the situation in all countries, not just the Baltics.
"I have confidence that the solidity of the Baltic states will be demonstrated," Trichet said.
Questions have been raised in Latvia in recent weeks about the sustainability of the peg of the lat, the country's national currency. The Swedish media have added fuel to the debate on several occasions by publishing opinions showing devaluation almost as a done deal.
The Latvian central bank and the government have repeatedly rejected the option that the lat could be devalued.
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