LT: European Commission deems Lithuania to have euro in 2014.

By bne IntelliNews January 28, 2010
European Commission (EC) allowed Lithuania to fulfil Maastricht criteria of budget deficit by 2012 in order to have euro in 2014. Joaquin Almunia, EC commissioner, said that Lithuania has performed an extraordinary effort in the face of economic downturn and it is on the right track for euro and economic recovery. According to EC in 2010 Lithuanian central government budget deficit will amount to 9.2% of total GDP in 2010, and will amount to 9.7% of total GDP in 2011. Kestutis Sadauskas, head of EC representation in Lithuania, said that Lithuania has strong chances of getting to euro zone in 2014 given continuation of current policies.

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