The new National Changeover Plan and the Public Information on the Euro Adoption and Communication Strategy of Lithuania have been approved

The National Changeover Plan envisages the key elements for the changeover (from the litas to the euro) and the measures to ensure the protection of consumer interests, smooth changeover and public awareness. The Plan has been prepared having regard to the practice of the European Union member states in adopting the euro, as well as evaluating the experience gained through the re-introduction of the litas in Lithuania in 1993.

The new Public Information on the Euro Adoption and Communication Strategy of Lithuania has been elaborated on the grounds of the current situation and with regard to surveys specifically aimed at this purpose. When implementing the strategy, it is envisaged to relate the changeover process with the general idea of the European Union integration.

According to current estimations, the most favourable period for Lithuania to join the Euro zone may begin in 2010. The exact date of the euro adoption is planned to be discussed by the Government this autumn.

The Plan envisages the changeover date in the Republic of Lithuania - 1 January of the respective year (particular year as decided). From the euro adoption day, the euro will become the single legal tender, except for the defined dual circulation period of 15 calendar days, when payments in litas banknotes and coins will be allowed.

According to the Plan, commercial banks will exchange litas cash into euro cash for two months free of charge. An obligatory dual display of prices encompasses 120 calendar days before and 120 calendar days after the euro adoption day. 120 calendar days before the euro adoption, wages, pensions and social payouts will be displayed in euro as well. The nominal value in litas of passenger, transport by water, rail and road tickets will be valid for 4 months after the euro adoption day. The nominal value in litas of air transport tickets will be in effect for 6 months after the changeover day. Postal stamps, the value of which is denominated in litas will be valid for 4 months after the adoption of the euro.

The Plan also envisages that when making public procurements of information systems public institutions must ensure the capability of purchased information systems to operate after the adoption of the euro. All investment projects must be agreed with the Information Society Development Committee.

Business organisations will be encouraged to adopt the Code of Good Business Practice, which will oblige them to convert prices in the correct manner, not to use the euro introduction as a pretext to raise prices, or otherwise infringe consumer interests.

The first versions of the National Changeover Plan and the Public Information Strategy were approved in September 2005.

The renewed Plan foresees a longer period for dual display of prices before and after the adoption of the euro (in the first version - 60 days), and an earlier frontloading date to the banks ? one month before the euro adoption (in the first version ? 10 days); it is foreseen to start the frontloading of euro coins not later than 3 months to the adoption of the euro (in the first version ? 10 days). It contains a broader explanation of important information to be given to the public, businessmen on IT, adjustment of accounting, taxes, rounding rules, statistics coordination, provides extended validity terms of prepaid notes (transport tickets, postage stamps), calculation of pensions and other social security payments, deals with the participation of municipalities, and other aspects of the practical preparation of the public sector and the Bank of Lithuania.

The Public Information Strategy stresses the involvement of different groups to the society into the changeover process. There will be a concerted effort to use the possibilities of different groups of the society more effectively in the process of practical dissemination of information and in fulfilling control and oversight functions right after the adoption of the euro. Political, consumer and other public organizations and business associations might become especially important information partners of respective institutions.

Another especially important point in the information strategy is increasing the level of economic literacy. The understanding of basic principles of economy will help the society to better understand the need for the adoption of the euro.

A broad range of public information and communication measures, such as the press, publications, direct information to the population, information via internet websites, etc, relevant in different information activity stages, is envisaged in the Strategy.

The National Changeover Plan and Public Information on the Euro Adoption and Communication Strategy of Lithuania have been worked out by the Coordinating and Public Information working groups created by the Commission for the Coordination of the Adoption of the Euro in the Republic of Lithuania. These working groups are comprised of representatives of the Bank of Lithuania, Ministry of Finance, Ministry of Economy, Ministry of Justice, Ministry of Social Security and Labour, Ministry of Agriculture, Ministry of Foreign Affairs, Information Society Development Committee at the Government of the Republic of Lithuania, Ministry of the Interior, Department of Statistics, business, representatives of consumer organisations and Association of Lithuania’s municipalities.