Kubilius remains pessimistic about eurozone situation

  • 2012-01-17
  • TBT Staff

VILNIUS - Lithuanian Prime Minister Andrius Kubilius (pictured) said he has not noticed any improvements in the eurozone economic situation. He said that decisions being made at the moment do not guarantee that the eurozone situation as well as the situation in Lithuania which depends on export is going to improve.

"News about the eurozone does not lead to a more optimistic view of 2012," Kubilius said, while commenting the decision of international agencies to downgrade the credit rating for nine eurozone countries, writes LETA/ELTA.

"Reducing rates show that international markets have not yet been convinced of eurozone and EU's decisions to solve all the eurozone problems. This might effect other countries' economic development. As we are an open and highly export-orientated country, we might also face some difficulties and challenges," he said.

Export makes, approximately, two-thirds (60%) of Lithuania's gross domestic product (GDP). 65% of export goes to the eurozone countries.

Rating agency Standard and Poor's has reduced France and Austria's rates and the evaluations of Malta, Slovakia, Slovenia, Italy, Portugal, Spain and Cyprus were downgraded.