Euro area membership will give Lithuania more stability and security, European Council President Donald Tusk said in Vilnius on Wednesday.
Donald Tusk
© DELFI / Mindaugas Ažušilis

"This is a historic moment for your country and this moment is important for the eurozone. This demonstrates once again the credibility and attractiveness of the eurozone. Joining will bring investment, growth, security and stability," Tusk told a press conference.

In his words, today the eurozone is stronger and more stable than several years ago. But more work will have to be done in the future to make the monetary union even stronger.

"The next step is improving coordination of the euro countries' economic policies to truly put the financial crisis behind us. We need more investment, structural reforms and sound public finances," Tusk said.

Lithuanian Prime Minister Algirdas Butkevičius expressed his delight over the country's successful transition to the new currency and said the euro would help Lithuania to become a modern European country.

"I am glad that our government successfully implemented the goal we set long ago. There are still new challenges and important work ahead of us. I am convinced that the euro will create opportunities for Lithuania to grow and become a modern European state," he told the press conference.

Also in Vilnius, European Commission Vice-President Valdis Dombrovskis underlined that Lithuania's euro membership was important for the entire Baltic region.

"It is an important moment for Lithuania but also important for the whole euro area. It demonstrates that the euro area is stable, strong, open and attractive for new member," Dombrovskis said.

Lithuanian became the 19th euro area member on 1 January.

BNS
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