2014-03-04
Lithuania’s intensifying preparations for the euro changeover are presented at the Central Bank of Spain
The Chairman of the Board of the Bank of Lithuania, Vitas Vasiliauskas, continues to meet with heads of the euro area states’ central banks and on Tuesday he will meet with the head of the Central Bank of Spain (Banco de España), Luis M. Linde. During the meeting it is planned to discuss the most up-to-date indicators and projections of both countries and the economy of the whole euro area, as well as the implementation of the single supervision of the European banks.
“We will present to the head of the Central Bank of Spain our country’s economic development, the newest projections of the Bank of Lithuania and our increasing readiness to adopt the euro. We will also discuss the challenges that Spain is facing in implementing the single supervisory mechanism for European banks, which Lithuania plans to join”, says V. Vasiliauskas.
The Chairman of the Board of the Bank of Lithuania this half-year plans to meet with heads of other euro area country central bank heads, to whom he will present Lithuania’s economic development and the prospects of euro adoption in Lithuania. Meetings with the heads of the central banks of Germany, France, Italy and Austria have already taken place.
After a few months the European Central Bank and the European Commission will present an assessment on whether Lithuania has met the euro membership criteria. It is expected that the final decision on the euro adoption in Lithuania in 2015 will be made mid-year.