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EU Commissioner Algirdas Šemeta says swift euro entry is in Lithuania's interests

Algirdas Šemeta
Eriko Ovčarenko / 15min nuotr. / Algirdas Šemeta
Šaltinis: BNS
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Lithuania will benefit from adopting the euro as swiftly as possible, Lithuania's EU commissioner Algirdas Šemeta believes.

"For Lithuania, it is very beneficial to join the euro area as soon as possible," he told the radio station Žinių Radijas.

One of the reasons why Lithuania has to seek a swifter entry into the euro area is that Estonia has already joined it and Latvia will do so very soon, the commissioner says.

"Lithuania remains the only Baltic country that will not have the euro in 2014," he said.

Lithuania aims to switch to the single currency in 2015.

Seventeen of the EU's 28 member states currently have the euro. To join the euro area, a member-state must meet the so-called Maastricht criteria on public finances deficit, inflation, and debt.

Too high inflation has been the main obstacle for Lithuania so far. It thwarted the country's bid to adopt the euro in 2007.

BNS
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