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Whole Baltic region to have euro from 2015

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Lithuania to join neighbours in euro area from January

 

 

Lithuania will be admitted to the euro area in 2015, joining its Baltic neighbours Latvia and Estonia, EU finance ministers have agreed. Lithuania has fulfilled all requirements for entry and proved it can adopt the euro as its currency, the ministers said. A final formal decision on the accession will be made in July.

Olli Rehn, vice-president of the European Commission in charge of economic and monetary affairs and the euro, stressed the fact that now the euro area will include the whole Baltic region.

“Lithuania’s acceptance will bring good news not only to Lithuanian citizens but to the euro area as well,” he said at a news conference.

According to the schedule, Lithuania will adopt the euro on January 1. Estonia adopted the European single currency in 2011, Latvia in 2014.

BBN

[photo courtesy European Commission]

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