Lithuania fulfils all the criteria to adopt the Euro

The European Parliament today confirmed the position of the Economic and Monetary Affairs Committee on Lithuania's adoption of the Euro with a large majority. 545 MEPs voted in favour, 116 against.

The country can now join the Eurozone on 1 January 2015. "Lithuania fulfils all the criteria. The government and the national parliament have worked hard over the last years", said Werner Langen MEP, the European Parliament Rapporteur on Lithuania's adoption of the Euro.

"Lithuania's accession to the Euro is a strong signal for a strong common currency which has successfully fought back the financial market crisis and speculative attacks. With 19 members, the Eurozone comprises almost two thirds of EU Member States. This is indeed a clear sign of success", said Langen.

"Lithuania has shown enormous effort since its unsuccessful first application in 2006. Now it is the third of the Baltic States to introduce the Euro. Europe is on the right track with its enforced Stability and Growth Pact, the pre-emptive surveillance of the national budgets and the structural reforms in the Member States. Welcome, Lithuania, to our forward-looking community of a common currency", the European Parliament Rapporteur said.