The president of the European Central Bank gave a keynote speech in Riga, Latvia encouraging Latvia to join the eurozone. He highlighted three lessons learned since the euro's introduction: 1) the euro has proven to be a stable currency, 2) countries need sustainable economic convergence both before and after adopting the euro, and 3) completing the institutions of the Economic and Monetary Union is important. He expressed confidence that Latvia is ready to join the eurozone given its efforts to overcome difficulties since 2008 and maintain economic stability.