Lithuania’s PM sees 2010-2011 euro entry as realistic
As the BNS reported the Prime Minister Gediminas Kirkilas said on Tuesday that 2010-2011 remained a realistic target for euro adoption in Lithuania.
Kirkilas said European Commissioner for Economic and Monetary Affairs Joaquin Almunia had assured him during his recent visit to Brussels that Lithuania still had a chance of joining the euro zone in 2010-2011.
“The European Commission agrees with Lithuania’s projections that inflation will rise to 6.5 percent by the middle of next year and then start to fall. Inflation will be impacted by an increase in prices for energy resources, therefore inflation is controllable,” the premier said in an interview with Lithuanian Radio.
“I think we should not scare ourselves by getting into various, often exaggerated, discussions. Our inflation level is the lowest among the Baltic states,” he said.
Kirkilas noted that Lithuania was meeting all the Maastricht criteria for euro entry, except the inflation criterion. “If we implement our fiscal discipline plan in a consistent manner and keep to the (euro) convergence plan, I believe that Lithuania has chances of joining the eurozone in 2010-2011,” he said.