2013-11-26
V. Vasiliauskas: Inflation and public finance discipline — major challenges in pursuit of the adoption of the euro
After meeting on Friday with Prime Minister Algirdas Butkevičius and Finance Minister Rimantas Šadžius, the Chairman of the Board of the Bank of Lithuania, Vitas Vasiliauskas, stated that, having set the concrete target for the euro, two major challenges are to be faced.
“In terms of meeting the Maastricht criteria, there are two main issues — inflation and fiscal discipline. They will require most attention,” said V. Vasiliauskas.
According to him, with the currency board arrangement functioning in Lithuania and, therefore, limited possibilities to manage inflation, the country should not seek to meet these criteria with artificial measures.
"Credible, sound joining of the euro area is what we are aiming at," indicated the Governor of the Bank of Lithuania.