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Roundup: Lithuanian, European leaders celebrate its euro adoption

Xinhua, January 15, 2015 Adjust font size:

Lithuanian official euro adoption event, held in the capital Vilnius on Wednesday, gave the scene to much broader discussions on the most important geopolitical, European and economic issues among high-ranking European officials and Lithuanian leaders.

Nevertheless, celebration of the euro introduction in Lithuania, the last Baltic state to adopt the single European currency, dominated the gathering which took place at the Palace of the Grand Dukes of Lithuania.

There is a tradition that the new euro zone countries organize an event to discuss the changeover process as well as the future challenges.

Euro membership will give Lithuania more stability and security, European Council President Donald Tusk told journalists in Vilnius.

"This is a historic moment for your country and this moment is important for the eurozone," Tusk said.

According to him, this demonstrates the credibility and attractiveness of the euro area.

"Joining will bring investment, growth, security and stability," he added.

Euro countries must further accelerate their structural reforms and strengthen their public finances, Tusk noted.

Lithuanian new membership in the eurozone shows that the bloc continues to be "strong, open, stable and expanding", Valdis Dombrovskis, Vice President of the European Commission responsible for the euro and the social dialogue, said during the joint press conference.

"Lithuania made every effort for this goal, which is impressive. Due to these efforts, due to the reforms implemented, Lithuania joins the eurozone as a strong country," Dombrovskis stressed.

"The euro is our opportunity, responsibility and freedom to grow," President of Lithuania Dalia Grybauskaite was quoted by ELTA news agency on Wednesday.

"Today, the Lithuanian Vytis (the Chaser, an armour-clad knight on horseback holding a sword and shield) is sending a message that Lithuania stands ready to protect and defend European values as we have always done since the beginning of our statehood," she continued.

Lithuanian Prime Minister Algirdas Butkevicius expressed his belief that the euro will give a chance for Lithuania to move forward and become "both modern and economically strong European country".

"I am glad that the introduction of the euro in the country has been going smoothly and according to plan, and there are euros in wallets of the many Lithuanian residents," Butkevicius added.

"People start appreciating the benefits of the euro: reinforced economic and financial security, improved Lithuania's image as a credible partner, more possibilities for foreign investment, the country's closer participation in EU decision-making," said the prime minister during bilateral meeting with Dombrovskis before the celebratory event.

Lithuania became the 19th member of the eurozone on Jan. 1, 2015. Jan. 15 is the last day when dual payments, both in euro and former national currency litas, will be accepted in Lithuania.

GEOPOLITICAL ISSUES

Senior officials of the eurozone countries and the EU institutions together with the Baltic countries leaders also focused on other issues of importance to Lithuania and the entire European Union, including current emerging geopolitical challenges, crisis in Ukraine and sanctions against Russia.

Europe faces new threats which demand coordinated and united response of all EU member states, Grybauskaite was quoted as saying by ELTA during her meeting with Tusk.

"Therefore, we must together search for solutions to ensure peace and economic welfare for our people," she added.

"The European Union's policy towards the east is not a policy against Russia. It is a policy in support of our eastern neighbors," Tusk said in a short statement after meeting with Grybauskaite.

He also mentioned the risk of terrorism that European people tragically witnessed in Paris last week.

"Both challenges, the one posed to our east and the one posed by terrorism, are very serious. But so is the determination and political will of all countries of the European Union to prevail," Tusk stressed. Endit