President Valdas Adamkus visits the Bank of Lithuania to discuss preparation for the euro introduction

President Adamkus was also acquainted with the measures to protect consumer interests during the changeover.

At a briefing held after the meeting President Adamkus said he was convinced during the discussion with the head of the central bank that speculations on the possible negative effects of the new currency on the Lithuanian people were unfounded.

The President said he saw no reason why Lithuania would not be able to adopt the euro as planned in early 2007.

He shared his positive assessment of the organisational work for the adoption of the euro done by the Bank of Lithuania.

“President Valdas Adamkus was interested in the details of the National Changeover Plan. The President was introduced to the preparations conducted by the Bank of Lithuania. We also showed the President the designs of the national side of the euro coins with the symbol of the Vytis that will be minted in Vilnius, and presented the plans for the euro information campaign,” said Mr Sarkinas.

He said he confirmed at the meeting with the President that the Bank of Lithuania will work jointly with the Parliament, Government, ministries and other institutions in preparing for the introduction of the euro to ensure a smooth and transparent cash changeover.

The preparation for the adoption of the euro at the Bank of Lithuania has been conducted following a plan adopted at the end of last year. The work includes preparation for the changeover, liking to the European Union payment system TARGET, restructuring of the Bank’s information systems, improvement of financial accounting and reporting, other technical, logistic, legal and public information work.