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Lithuanian Seimas approves EU fiscal stability pact

Petras Vaida, BC, Vilnius, 28.06.2012.Print version
Lithuania's Parliament approved of the European Union's Fiscal Stability Treaty. Lawmakers voted 80-11 with 21 abstentions to approve the pact today, according to a vote count broadcast from Parliament in Vilnius.

The accord anchors balanced-budget rules in national law, reports LETA/ELTA, referring to Bloomberg.


As reported, On January 31, 25 EU member states agreed on the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union. The Czech Republic and Great Britain will not take part in the agreement.


Under the treaty, EU member states agree to strengthen the economic pillar of the Economic and Monetary Union by adopting a set of rules intended to foster budgetary discipline through a fiscal compact, to strengthen the coordination of economic policies and to improve the governance of the euro area, thereby supporting the achievement of the European Union's objectives for sustainable growth, employment, competitiveness and social cohesion.

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