International Internet Magazine. Baltic States news & analytics
Tuesday, 03.03.2015, 20:45
President: Lithuania will adopt the euro when both the country and the eurozone itself are ready
"Lithuania will adopt the single currency when it is ready and when the eurozone is also prepared to accept new members," she said yesterday to Lithuanian reporters in Brussels, ahead of the European Council meeting, reports LETA/ELTA.
Grybauskaite said that if the eurozone wants to prepare for new members joining it, it should first of all handle the current situation.
Earlier, Lithuania's president had said that the country will be ready to introduce the new currency in 2014 if the European debt crisis does not hinder the development in the region.
To join the euro area, inflation must be within 1.5 percentage points of the average in the three EU countries with the lowest rates. Countries must also meet fiscal, debt, interest-rate and exchange-rate targets.