Strong Europe is strong Latvia - Kazaks

RIGA - A strong Europe is also a strong Latvia, Bank of Latvia Governor Martins Kazaks said Monday in an interview with TV3, commenting on the overall results of the European Parliament (EP) elections.

"A strong Europe is a strong Latvia and a strong Latvia is a strong Europe. So the call is for everyone to work together. We will see how it turns out," said Kazaks.

He also pointed out that Europe needs to move forward quite forcefully and that EP is very important in this process. Among other things, Kazaks noted that there are a number of areas where Europe is lagging behind globally, such as the development of the capital market, where more progress is still needed.

"It is very important how fragmented the parliament will be, because a fragmented parliament means that it is more difficult to take decisions, and this can also be detrimental to economic development," Kazaks said when asked whether the results of the EP elections could bring about a visible change in the direction of the European economy.

As reported, according to provisional results, the centre-right European People's Party (EPP) has won the European Parliament elections, increasing European Commission President Ursula von der Leyen's chances of keeping her office.