By joining the euro zone, Lithuania is becoming part of an area of stability, security and prosperity, says European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici.
EU Commissioner Pierre Moscovici and Lithuanian Finance Minister Rimantas Šadžius
© DELFI / Kiril Čachovskij

According to the French commissioner, Lithuania is well-placed to thrive in the euro area.

"In joining the euro, the Lithuanian people are choosing to be part of an area of stability, security and prosperity. Lithuania has a strong track record of sound fiscal policies and structural reforms, which have delivered some of the highest growth rates in Europe, coupled with steadily falling unemployment. The country is well-placed to thrive in the euro area," Moscovici said in a statement on Wednesday.

Meanwhile, Valdis Dombrovskis, vice-president of the European Commission responsible for the Euro and Social Dialogue, underlined that Lithuania 's accession marks the completion of the Baltic states' journey back to the political and economic heart of our continent.

"This is a symbolic moment not only for Lithuania, but also for the euro area itself, which remains stable, attractive and open to new members. I am convinced that the Baltic States' membership in the euro area will strengthen the economy of the region by making it even more attractive to businesses, trade and investment," Dombrovskis said.

In his words, following the economic crisis, Lithuania made tremendous effort to restore its financial stability and economic growth to be able to join the euro zone.

Lithuania will adopt the euro at midnight tonight, becoming the 19th member of the single currency club.

BNS
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