Following the final decision of the European Union's General Affairs Council of Ministers on Lithuania's participation in the Economic and Monetary Union (EMU) from 1 January 2015, governor of the Bank of Lithuania Vitas Vasiliauskas warns Lithuanians not to rush to exchange their savings in litas for euros.
Bank of Lithuania chief Vitas Vasiliauskas
© DELFI

"I think it has been a long road, it is certainly a historic event," said the chair of the Board of the Bank of Lithuania to journalists during the event Euro Festivities 2014 held by the European Commission and dedicated to Lithuania's accession to the euro zone.

The fact that Lithuania has become the member of the euro area, according to Vasiliauskas, means that Lithuania's economy is of good quality. Moreover, by becoming the member of the monetary union, Lithuania also joins the Banking Union.

"Lithuanian people should not be rushing now to exchange litas to euros. Actually, it will be possible to do it after the New Year for free, I recommend putting money into banking accounts and it happen automatically," said the governor of the Bank of Lithuania.

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