The country’s financial institutions are working on consolidating the role of cash and the requirements for access to it with a law that would take effect in January 2025.

Recognising there is strength in numbers, Estonia, Latvia and Lithuania are joining together to created a pan-Baltic capital market, with covered bonds the first product planned. Michael Turner reports.

Latvian finance minister Dana Reizniece-Ozola outlines to Stefanie Linhardt the government’s plans to tackle the shadow economy and devise a fair and sustainable mid-term tax strategy.

Bulgarian lenders bucked the trend as Tier 1 capital contracted in most of central and eastern Europe, while Czech institutions retained their status as most profitable banks in the region.

Private equity investment in central and eastern Europe could be set to increase as investors look to capture the region’s potential as its economies return to growth. 

Central and eastern European banks in the EU faced a sluggish 2013, but Poland led the region in terms of growth and the Czech Republic in terms of returns. Baltic banks are also starting to rise to the challenge.

With a deadline looming for the privatisation of state-owned Citadele, and the country's accession to the eurozone likely to squeeze profits in the banking sector, 2014 looks set to be a year of challenges for Latvia.

The Banker’s Finance Minister of the Year for Europe 2013 won his award thanks to a successful and determined fiscal adjustment programme. He explains how moving early is now allowing Latvia to look beyond austerity.

The eurozone's troubles of the past few years have meant that the headlines have been dominated by those countries deemed likely to leave the currency union. However, there are EU members that still wish to sign up to euro membership. The question is, why?