30th January 2014

Lithuania determined to adopt euro in 2015

During the Eurogroup meeting on 27 January, the president Jeroen Dijsselbloem stated that Lithuania is firmly determined to adopt the common currency on 1 January 2015. Lithuania would like to follow its Baltic neighbors, Latvia and Estonia, that both adopted the euro already, in 2014 and 2011 respectively, despite the serious problems the eurozone is facing since 2010. The strong determination has been previously expressed also by the Lithuanian Prime Minister Butkevicius, who promised to resign if his country does not adopt the euro as planned. Convergence reports by the European Commission and by the ECB will follow in June and, if recommended, the ECOFIN Council will vote on Lithuania´s adoption of the euro. Public opinion in Lithuania is relatively in favor, although the question is not without controversy.

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Members of the American Chamber of Commerce in the Czech Republic