Baltic presidents optimistic about economy

  • 2009-12-16
  • Oskars Magone

The three Baltic presidents agreed to have their respective governments to prduce a list of key energy projects. (Photo:

VILNIUS - The three presidents of the Baltic states at a trilateral meeting in Vilnius have said they expect economies in the region to soon turn around.

The annual meeting saw Estonian President Toomas Hendrick Ilves, Latvian President Valdis Zatlers and Lithuanian President Dalia Grybauskaite - who hosted the event - discuss a wide range of topics.

All three heads of state said they were optimistic about the Baltic economies prospects in the coming years.

"Latvia is recovering from the economic crisis. The International Monetary Fund recognized that our plan works, that we fulfilled their requirements for this year and that they are satisfied with the results. We expect good results by the end of year 2012," said Latvian President Valdis Zatlers, whose country has been hardest hit by the economic crisis.

The leaders also discussed the energy situation in the Baltic states. The leaders agreed that the three countries must work together to establish the safest energy market in Europe. They must also work together on the issue of demand for electricity, which will only increase in future. The presidents also discussed the future of the Ignalina power plant, the Latvian presidential website reported.

"We, small countries, have similar economic and political interests in the European Union. All three Baltic States are interested in having independent energy market, creating a common market for electricity, and securing EU financing for energy projects. Therefore, we have decided to charge our Governments with a task of producing a list of projects for which we would jointly seek financing under the new financial perspective commencing in 2014," President Dalia GrybauskaitÄ— said.

Though pressed at a press conference following the meeting about his country's chances of being allowed to adopt the euro in 2011, Ilves refused to speculate, saying only thathe is not sure if it will happen.