Analytics, Economics, EU – Baltic States, Financial Services, Lithuania

Kestutis Glaveckas.

"I would suggest refraining from creating myths or legends. I do not think that the euro introduction in Lithuania will depend on individual EU member-states' willingness or reluctance. It is all in our hands, it will be determined by our competence in managing the economy and finance of the country," Glaveckas said.

According to the politician, the Lithuanian economy is too small in the whole pot of the EU, so it should not significantly affect the whole financial system of the block. "Perhaps Lithuanian recently has lost confidence as a state because of the financial state, yet, I believe, our country is fully able of recovering quickly," Glaveckas noted.

In his view, it is obvious that the euro zone is now facing difficult times of recession, there are signs that coming back to the path of growth may take at least several years. However, Lithuania has had a fixed rate of litas and euro for a long time, thus, the date of the adoption of the euro is not that important for the country. On the other hand, according to the MP, we should first weigh all factors, even if we have all possibilities of introduction of it, informs LETA/ELTA.