Lithuania defends currency

Jun 10, 2009
By Adam Mullett

VILNIUS - Lithuanians have begun another run on the litas, changing their savings into euros in fear of a sudden devaluation – a decision that people think could be made by the government and central bank soon. The government has made a categorical statement that they would not devalue the litas in the foreseeable future, noting the currency board agreement’s importance for financial stability. “Absolutely not – we have no intention [of devaluing the litas] – there are no reasons and no argumen ...

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