STRONG LITHUANIAN ECONOMY AND DISCIPLINED BUDGET POLICY WOULD ALLOW EARLY ADOPTION OF THE EURO
On 2 October in Vilnius Lithuanian Minister of Foreign Affairs Petras Vaitiekūnas met with European Commissioner for Economic and Monetary Affairs Joaquín Almunia and discussed possibilities of Lithuania’s accession to the euro zone and other topical EU issues.
Speaking about the prospects of Lithuania’s accession to the euro zone Minister Vaitiekūnas noted that it is important to implement balanced state budget policy and take necessary measures to manage inflation. The initiative of law on fiscal discipline proposed by the International Monetary Fund was discussed as one of possible measures.
“Strong Lithuanian economy and disciplined budget policy would allow early introduction of the euro in Lithuania,” Lithuanian Foreign Minister said.
European Commissioner Almunia agreed that clear inflation management plan and effective strategy for introduction of the euro would be beneficial for Lithuania. The Commissioner took a positive view of the initiative of law on fiscal discipline.
The issues of energy security, the Treaty establishing a Constitution for Europe, and relations with neighbour states were also addressed at the meeting.
In Vilnius European Commissioner Almunia also met with the Prime Minister Gediminas Kirkilas, Minister of Finance Zigmantas Balčytis, Chairman of the Board of the Bank of Lithuania Reinoldijus Šarkinas and also with the President of Lithuania Valdas Adamkus and the Chairman of the Seimas Viktoras Muntianas.
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