We have adopted the euro successfully: Lithuanian President

  • 2015-01-15
  • from wire reports, VILNIUS

As the fifteen-day transition period for the adoption of the euro in Lithuania ends, President Dalia Grybauskaite spoke positively about the process. According to her, both residents and institutions were well prepared for the changeover.

"I think these two weeks were quite successful, we were well prepared for the adoption of the euro. Everything went very smoothly, apart from some minor incidents, and I am pleased that the process and its first stage will have been completed," Grybauskaite told national radio on Thursday.

"I would like to thank people for their patience and disregard of minor problems. We have indeed observed that people and institutions were well-prepared," the president noted.

From tomorrow, Friday 16th Jan, all payments in Lithuania must be made in euros.

Lithuania received another boost today with the release of a report from professional services company EY (Ernst & Young) that forecast that the country's GDP would grow by 3.6 percent this year. The adoption of the euro, reduced financial risks and cheaper borrowing rates will all contribute to the Lithuanian economy growing at three times the average rate for the eurozone, the firm predicted.