“Is it feasible for Lithuania to join the euro zone in 2015? I don’t know. We will make the assessment once your government asks us and the European Commission to draw a so-called convergence report. It’s important to understand that it’s necessary both to meet the euro adoption criteria at a certain time and to ensure their sustainability,” he said in an interview to the Verslo Žinios business daily.
All countries wishing to join the euro zone would be assessed on equal terms and on the basis of the same criteria, the member of the ECB’s Executive Board told the daily.
Lithuania should implement adequate fiscal policy, Asmussen said adding that inflation should meet the requirements as well. In addition, the country should ensure progress in terms of competitiveness and the activity model of its public authorities and the central bank should comply with the requirements.
