Lithuania’s small business owners want more flexibility during euro switch-over

Euros. DELFI / Šarūnas Mažeika

“From 1 January 2015, both small and large traders will have to give change in euro. However, not everyone is happy with such a rule, especially small business owners in rural areas, who fear they may not have enough change available. The Bank of Lithuania also estimates that the need for cash will increase 3-5 times,” said director general of LPPARA Rimantas Šidlauskas.

Šidlauskas says that facilitation proposed by the association would not hamper euro adoption but would make it easier for business owners and reduce discontent with introduction of the new currency.

“As businesspeople’s representatives, we need more information and a structured plan on how small business owners in rural areas will receive the euro. (…) I believe, if the situation does not change, small traders will inevitably become temporary currency exchange offices. Because of this they will experience losses and probably will be unwillingly breaking regulations,” says Šidlauskas.

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