Greece’s euro exit would not affect Lithuania, President Grybauskaitė says

Dalia Grybauskaitė
DELFI / Mindaugas Ažušilis

“I think Greece will not withdraw from the eurozone, because this would be a huge economic and financial collapse for the state itself. We have practically no major or close economic relations with Greece. We have made practically no investments there; nor have we purchased Greek government securities. We would not, therefore, feel any direct effect,” she said in a comment sent by her press office.

Grybauskaitė said that the blow on international markets would not be strong either.

“The entire Greek economy accounts for just around 1 percent of the EU’s and 1.8 percent of the eurozone’s GDP. If this had happened three or four years ago, when many still held Greek securities, this could have affected private and international institutional lenders. I think that now this would give a minor shock to the markets, but would definitely have no major impact,” she said.

Grybauskaitė reiterated that the Greek government must make the commitments demanded by international lenders, as the country was teetering on the brink of insolvency and bankruptcy.

The Lithuanian president is taking part in an emergency summit of eurozone leaders in Brussels on Monday.

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