On Tuesday, Grybauskaitė met with Michel Barnier, the EU commissioner for the internal market and services, to discuss the key tasks of the Lithuanian EU presidency in strengthening the EU's internal market, the president's office said.
"Among the underlying tasks of the Lithuanian Presidency is to strengthen the financial sector by continuing to build a banking union. One of its components is a single resolution mechanism for banks which would facilitate the management of bank crises in the future. In case of difficulties, it would be banks themselves who would shoulder the burden of losses thus minimizing costs to taxpayers and threat to public finances," Grybauskaitė said in a press release.
The president underlined the need to better exploit the potential of the services market.
Lithuania, which is holding the EU's rotating presidency in the second half of this year, will make efforts toward a more effective implementation of the Services Directive in the EU member states, according to the press release.
