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Economy

European Commission criticizes Lithuania for poor VAT collection

The level of VAT revenue collected in Lithuania is well below that which could be collected, the European Commission has said. […]

Dimitris Papanikolaou
European Union

Syriza member in Vilnius: Workers’ rights are the biggest loss in Greek debt crisis

Europeans are starting to realize how sombre the situation is for the Greek people and sympathize with their plight, says Dimitris Papanikolaou, academic from Oxford University. The austerity measures imposed on Greece have done little to get the country out of debt and a lot to dismantle welfare provisions and workers’ rights. The fight to prevent this, he says, is not Greece’s alone – the Europe we joined is a Europe that ensures the minimum of dignified life for everyone. […]

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European Union

Lithuanian finance minister: Greece needs financial support

Debt-ridden Greece will hardly be able to pay 1.6 billion euros to the International Monetary Fund (IMF) by June 30 without external financial support, Lithuania’s Finance Minister believes. […]

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Uncategorized

Lithuanians spend less on food than Latvians or Estonians

A study of the expenses of households carried out by Swedbank’s Institute of Private Finances has revealed that Lithuanians spend less money on food than Latvians and Estonians. A family of four people that lives in Vilnius spends EUR 291 per month on recommended food products. The same food products cost in Riga by 7.2 percent more – EUR 312, whereas in Tallinn by 2.7 percent more – EUR 299. […]

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Economy

Lithuania’s central bank suggests tougher guidelines for housing loans

The Bank of Lithuania has presented to market participants its proposals concerning changes to the Responsible Lending Regulations. They would introduce the requirement to responsibly assess customer’s risk due to likely interest rate increases, while the proposed shorter maximum maturity of a housing loan would speed up the repayment of the loan and reduce the possibility of over-indebtedness, the Bank of Lithuania said. […]