(BNS) The European Parliament’s Committee on Economic and Monetary Affairs (ECON) accepted a 2015 euro adoption in Lithuania on Monday with 29 approvals and one abstention.
(BNS) The European Parliament’s Committee on Economic and Monetary Affairs (ECON) accepted a 2015 euro adoption in Lithuania on Monday with 29 approvals and one abstention.
“That voting result isn’t surprising taking into consideration the questions where the assessments by many MEPs were really positive. And it’s a very welcoming piece of news in particular as that voting was the first formal step by the EU’s authorities towards [a] decision on Lithuania’s membership in the eurozone. And that step was what we were seeking,” Vitas Vasiliauskas, governor of the central Bank of Lithuania, told the Baltic News Service.
Lithuania’s economy is liquid and well capitalized in preparation for the euro, said Werner Langen in the ECON report approving Lithuania’s euro adoption.
According to the report, the Lithuanian financial sector is dominated by Scandinavian banks, which control some 90 percent of the market.
Lithuania’s energy dependence on Russia and the government’s ambitious energy independence initiatives were noted in the report.
The report called on Lithuania to establish controls to prevent hidden price increases with the euro introduction.
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