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On September 26 in New York, Lithuanian Minister of Foreign Affairs Audronius Ažubalis attended the Foreign Policy Association’s World Leadership Forum on global economic outlook. At the discussion, Ažubalis stressed the significance of fiscal policy and energy security for the future of the European Union.

 Along with Ažubalis, the discussion on the future of Europe was also attended by President of Estonia Toomas Ilves, Latvian Foreign Minister Edgars Rinkēvičs and Norway’s Foreign Minister Jonas Gahr Støre.

Ažubalis said that the implementation of the Maastricht fiscal convergence criteria was important for Lithuania not just as part of the preparations for introduction of the euro, but, first of all, as means of promoting economic growth.  “Lithuania seeks to implement the Maastricht criteria and to pursue the strict fiscal policy,” the Minister said.

He also stressed that the strengthening cooperation of the “Nordic Bow” countries in the implementation of a responsible fiscal policy could set a good example also for other EU countries, which were facing economic difficulties.

According to Ažubalis, the stability of the euro is guaranteed by the political determination of the EU member states to ensure the implementation of supervisory mechanism to safeguard the stability of the euro area.

The Minister also underlined that lifting the region’s energy isolation was especially important for faster growth of the Baltic States.

“The key priority of the Government of Lithuania today is the implementation of strategic energy projects: the construction of the liquefied natural gas terminal, the new nuclear power plant, and building new electricity and gas links to the EU,” Ažubalis said.