The second wave of crisis already hit Lithuania - Lithuanian MP

  • 2012-07-04

VILNIUS - Seimas opposition leader, Social Democrat Algirdas Butkevicius says that the second wave of the crisis has already come to Lithuania. He points out that the anxiety about the banks of the euro zone will also affect our country.

"I closely follow what is happening in the euro zone countries. The crisis is not on its way, it is already there. Firstly it hit the euro zone countries, and we see that the ratings of commercial banks are already reduced," said Butkevicius in an interview to the radio Ziniu Radijas, Wednesday.

Lithuanian President Dalia Grybauskaite has also considered the risk of second wave of crisis in Europe, reports ELTA. "Europe must decide whether it is taking the path towards the enhancement of integration or risking the euro zone existence," said Grybauskaite last week ahead of the European Council meeting in Brussels.

"The biggest challenges have to do with the current complicated situation in Europe which in fact has not improved since late 2007 when the global financial crisis started. Now a number of heavily-indebted countries have enormous government debts, as a result the markets are reluctant to lend to some particular countries. This allows us to speak about a risk of facing a second wave of crisis in Europe," said Grybauskaite.