Analytics, EU – Baltic States, Financial Services, Lithuania

Photo: euro.lt

Lithuania's Ministry of Finance was one of the main organisers and coordinators of the process, euro.lt said.

"We may still calculate in mind prices in litas, however sociological surveys show that in 100 days the euro has found its way not only into our wallets. It has happened just like in the neighbouring countries: after the euro adoption confidence in the currency has grown and will be growing in the future," says Minister of Finance Rimantas Sadzius.

According to survey data, from September 2014 to January 2015 the number of people thinking that the euro triggered price increase reduced from 84% to 58%.

To make sure that the public gets used to the euro sooner, prices have been displayed mandatorily in both currencies from 22 August 2014. Statistics Lithuania have constantly monitored price changes of 1,000 goods and services, and the State Consumer Rights Protection Authority in conjunction with other 17 supervising institutions monitored how the requirements were complied with. Total of approximately 20,000 inspections were conducted; approximately 1,000 companies were given warnings for incorrectly displayed prices or other violations, 16 companies were imposed monetary fines.

Prices both in Euro and Litas must be displayed at retail sales and service locations till the end of June 2015, the salespeople then can display prices at their own discretion later on.

The adoption of the Euro went smoothly in Lithuania: according to the Eurobarometer data 86% of the Lithuanians believe so. In January 2015 92% of the Lithuanians felt being very well or well informed about the Euro adoption (repeating the record set earlier by Cyprus and Slovenia).

The information campaign coordinated by the Ministry of Finance reached out to 2.4 million TV viewers, 2.3 million radio listeners, 1.5 million Internet users, and 1.4 million readers of newspapers and magazines.