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Economy

Lithuania bids farewell to the litas to welcome the euro

On Wednesday, Lithuania is bidding farewell to its national currency, the litas, and welcoming the common European Union (EU) currency, the euro, which will be adopted on 1 January 2015. […]

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Economy

Wages in IT determined by productivity, not change of currency

The euro which will shortly replace the litas will have a positive effect on the IT services market of Lithuania, however, it will hardly bring any significant changes. Antanas Ursulis, general manager of CSC Baltic which provides IT services, says that the euro will not bring any dramatic changes to working conditions or expectations of employees; nevertheless, the new currency will help Lithuania enhance its image as a reliable and attractive country for investors. […]

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Economy

Lithuania’s small businesses do not fear euro adoption, survey shows

A survey of small and medium-sized businesses commissioned by Lithuania’s Central Credit Union (LCKU) and carried out by Spinter Tyrimai has shown that 43 percent of respondents think that the euro adoption will be beneficial for long-term business development. […]

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Uncategorized

Latvia’s one year in the euro zone: no upsurge of investment

January 1, 2014, will mark one year since Latvia replaced its national currency, the lats, with the euro. Looking back at this important event, one can conclude that hopes of the euro kickstarting a rapid increase of inflow of investments in Latvia and membership in the euro zone making Latvia more attractive have not come to pass. […]

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Economy

Lithuania’s justice minister says fewer violations in dual price display before euro changeover

The number of violations related to dual display of prices in the litas and the euro has been decreasing, which shows that Lithuania has duly prepared for the currency changeover, Justice Minister has said. […]