J. Asmussen: it is important to not only meet on time the euro adoption criteria, but also guarantee their stability
Lithuania’s economy is growing at an impressive pace, and, having set the goal to adopt the euro in 2015, most important now is to not stray from the chosen course, especially in seeking to control the public finances deficit, stated after the 17 July meeting, which took place at the Bank of Lithuania, between Members of the Board and European Central Bank Executive Board Member Jörg Asmussen.
“The most important and difficult task — to secure the sustainability of economic development. This is no less important than meeting the convergence criteria at a particular assessment time”, noted J. Asmussen. According to him, Lithuania is exhibiting impressive economic growth, and in the context of adopting the euro, most relevant is work to control inflation, especially of the budget deficit.
“Having discussed the actualities of Lithuania’s economic development, our views and the views of our colleagues coincide: having overcome the 2008–2009 economic shocks through decisive actions, Lithuania is moving in the right direction. Most important now is to not stray from the chosen course and secure the sustainability of public finances”, stressed Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, after the meeting.
On 18 July Jorg Asmussen will also take part in the round table discussion “European Economic Integration: Stock Taking of Challenges and Possibilities” organised at Vilnius University by the Bank of Lithuania together with its partners.