Lithuania will adopt the euro on 1 January 2015 joining the strongest economies that play a crucial role in shaping the financial and monetary policies of the whole EU.
Speaking at the European Council meeting, the President underlined that the European Union, going through a period of economic stagnation, needs investments that would promote the Community's competitiveness in global markets and create new jobs. Therefore, according to the President, special focus should be placed on upgrading industry and implementing strategic energy projects aimed at reducing production costs.
The President noted that to ensure economic growth in the EU, the member states must conduct a responsible financial policy and carry out structural reforms.
Lithuania, whose economic growth is one of the fastest in the EU, is seen as an example of successful dealing with the crisis, reducing the budget deficit and tackling unemployment issues. Having successfully overcome economic challenges, Lithuania will become the nineteenth member of the euro area.
