EU leaders endorse Lithuania’s euro zone membership

First Lithuanian Euros
DELFI / Šarūnas Mažeika

In their conclusions adopted in Brussels, the EU leaders praise Lithuania for its successful exit from the financial crisis and underline the country’s compliance with the Maastricht criteria for euro zone membership and its readiness to adopt the single currency, according to the Lithuanian president’s press office.

President Dalia Grybauskaitė said that this was a very strong international recognition of Lithuania as a financially reliable and developed nation.

After joining the euro zone, Lithuania will be a full-fledged partner in shaping and adopting political decisions on the EU’s monetary policies, the president said.

“The euro will not only bring direct benefits to Lithuanian businesses and people. Euro adoption will help ensure sound and responsible financial policies and will help prevent financial populism,” she said in the press release.

The EU leaders’ statement is among the last approvals from EU institutions that Lithuania needs to become the 19th member of the euro zone. The final formal decision on the country’s accession to the euro club will be taken in July.

Lithuania plans to replace the litas with the euro on 1 January 2015.

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