1 hour. 42 minutes ago
At midnight Lithuania officially joined the euro area. Thus became the 19th country to use the single European currency and the last of the three Baltic states, which have opted for a move. In Lithuania, however, there is no shortage of skeptics against the single currency.
In the New Year’s speech, the President of Lithuania Dalia Grybauskaite said that the entrance to the the euro area “is an opportunity for us to grow and develop as a modern European state, the designation of each new goals and vision of the future with hope”
Prime Minister of Lithuania Algirdas Butkevičius who first banknote paid 10 euro ATM, said that the euro “will be the guarantor of security in both economic and political.”
Lithuanian Finance Minister Mr Rimantas ŠADŽIUS admitted that he personally – as suspects – including many of the citizens of Lithuania “feels sad that lithium, which served us well for over two decades, becoming history, but we have to go forward. “
stimulus to the development of the economy?
The government argues, that the adoption of the euro would be a boost for the economy through cheaper loans, eliminate the risk of devaluation of the currency, which in turn will encourage increased exports and investment. In addition, the euro zone solidarity mechanisms allow Lithuania expect help in the event of a crisis.
Supporters of the single currency also indicate that the adoption of the euro and deeper integration within the EU also strengthen the security of the country, which is especially important now to aggressive actions of Russia in region.
Great enthusiasm, however, there is no
In Lithuania, but also no shortage of opponents of the euro. According to opinion polls, although the majority of Lithuanians support the transition to the euro, it does not show in this matter of great enthusiasm.
Lithuanians fear price increases as a result of their “rounding up” and the consequences of the large contribution that Lithuania will have to make the euro zone’s rescue fund. Prices in Lithuania has slightly increased half a year ago, in July, when the European parliament agreed to the introduction of the euro in Lithuania. Some experts also point out that cheaper loans may lead to an excessive increase in government spending, and that Lithuania could lose their competitiveness in global markets.
According to the adopted by the Parliament Act to launch the euro on 1 January Lithuanian Bank will exchange Solid to the euro in unlimited quantities and without a specific time limit. Over the first six months of 2015 years the money will exchange the commercial banks and the post office. From 1 to 15 January in Lithuania can be paid either in euro and intestine, but the rest will be issued in Euros.
Lithium was the national currency of Lithuania in 1922-1940 and since 1993. Until now . Since 2002. Point was pegged to the euro and Lithuania was dependent on the policy of the European Central Bank, but had no effect on his decisions.
No comments:
Post a Comment