2013-11-26
J. Asmussen: It is not only important to meet the euro adoption criteria at a particular time, but to ensure their sustainability as well
Lithuania's economy is growing at an impressive pace, and, having set the goal to adopt the euro as of 2015, most important now is not to stray from the chosen course, especially in seeking to curb public finances budget deficit, stated member of the Executive Board of the European Central Bank, Jörg Asmussen, after the meeting with members of the Board, which took place on Wednesday, 17 July, at the Bank of Lithuania.
“The most important and difficult task is to ensure sustainable 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 preparations to adopt the euro, the most relevant work is to curb inflation, especially budget deficit.
“After discussing the actualities of Lithuania's economic development, our views and the views of our colleague from the Board of the ECB coincide: having overcome the 2008–2009 economic shocks through decisive actions, Lithuania is moving in the right direction. Most important now is not to stray from the chosen course and ensure the sustainability of public finances”, stressed Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, after the meeting.
On Thursday, 18 July, JörgAsmussen 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 jointly with its partners.