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Stoma, Saulius

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Lietuvos žinios - Lithuania | 08/07/2009

Lithuania should not convert to the euro at any price

The Lithuanian government wants to continue with plans to introduce the euro on 1 January 2012, despite the economic crisis and a difficult budgetary situation, by implementing stringent economy measures. "The date for the introduction of the euro was chosen randomly. There is no case for this [the introduction of the euro] freeing Lithuania from the need for tight public budgeting. Will it make loans any cheaper? We need cheap money now and not in three or four years' time, when the international crisis is over. By then money will be cheaper anyway, provided we haven't totally ruined our economy. Clinging to that date is reminiscent of the Soviet planned economy: The five-year plan will be fulfilled in three years! This would be sticking to the plan at any price, regardless of the impact it has on people."

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