The crisis in Lithuania will end on June 21!

May 21, 2009 at 11:30 am 1 comment

‘The crisis in Lithuania will end on June 21’ jokingly said the Prime Minister Andrius Kubilius during the Cabinet’s meeting on 20 May. Mr Kubilius was basing his information on the fact that improved credit default swap data on Lithuania show that the country has basically managed to rein in the crisis.

“I think that our financial policies have been very useful and successful until now, and the best proof of this is credit default swaps quoted by Bloomberg — [they reflect] how international markets perceive the risk of lending money to our country,” Kubilius told reporters after a Cabinet meeting writes BNS and Verslo Zinios daily.

“Based on these data, credit default swaps are returning to the levels they were on Oct. 1 last year, before the start of all crisis phenomena. We can say very clearly that, in this respect, we have managed to get the crisis under control basically, speaking about the assessments of our financial risk,” he said to BNS.

“I cannot imagine us returning to loose finances again. Our basic aim was, and remains, to maintain the stability of the public financial system,” the prime minister added.


Entry filed under: Baltic States, Economics, Estonia, Latvia, Lithuania, Northern Europe, Politics, Russia.

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