Lithuania joins Euro zone

04.06.2014

On the 4^th of June European Commission published report on Lithuania, in which it gave its opinion on the state’s ability to join Euro zone.

Report says that Lithuania fits all criteria for transition to euro. European Commission suggests this member-state will join euro zone since 1^st of January, 2015.

The final decision on Lithuania joining Euro zone shall be made by the Council of Ministers in the second half of July, 2014.

Source: http://europa.eu/rapid/press-release_MEMO-14-391_en.htm

Expert’s opinion

As we remember, at the beginning of this year Euro zone was joined by Latvia. Now it is the turn for the least of Baltic countries to join. There is no doubt that Council will make a favorable decision.

The decision about Lithuania joining Euro zone is a proof that nowadays country has stable monetary and fiscal policy, which meets requirements for Euro as for level of inflation, state budget and public debt.

Certainly, the introduction of Euro is a long and complex process that requires thorough preparation. I suppose that in the event of Lithuania joining Euro zone the transition plan for the state will be developed in late summer taking into account all the nuances of this complicated procedure.

Anna Shevchenko ( Lawyer, Honest&Bright)