Lithuania keeps head above water despite doubts on quick recovery

Dec 02, 2009
Staff and wire reports

VILNIUS - Lithuania is falling further behind Estonia in the race to adopt the euro, though this may not be such a bad thing. The government has proposed budget cuts for 2010 worth 5 percent of GDP that target social benefits, such as maternity and jobless pay and pensions, reports Bloomberg. “Those are very ambitious measures, very painful measures, and of course there are some limits to what you can implement,” said Prime Minister Andrius Kubilius speaking in London on Nov. 2 ...

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