Last of the Baltics: Lithuania Waiting on EU for Euro Switch

(AFP/Scanpix)
5/21/2014 11:10 AM
Category: Politics

Lithuania is waiting for a decision by the European Commission and the European Central Bank (ECB) for a green light in switching to the Euro at the beginning of 2015.

The nation published its latest economic figures recently, upon which it will be judged, although the Lithuanian government claims the figures are all in order, ETV reported on Tuesday.

“The reports from the ECB and the European Commission, the so-called convergence reports, are likely to come out in early June, so the assessment will be made using the data up to April,” said, Aurelijus Dabušinskas, head of the economic department at the Lithuanian Bank.

A poll taken in March puts public support for adopting the Euro at only 34 percent, with 56 percent opposed. Support has dropped since last year.

If the currency gets a green light, the Lithuanian euro coins will have a picture of Vytis, an armor-clad knight on horseback holding a sword and shield.

Estonia adopted the currency in 2011. Latvia switched to the Euro on January 1.


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