As Lithuania is to become the 19th member of the euro zone on 1 January, Lithuanian Finance Minister Rimantas Šadžius admits that he has not yet got accustomed to the euro and price tags in two currencies still puzzle him.
Rimantas Šadžius
© DELFI / Tomas Vinickas

According to the minister, the euro changeover in Lithuania means no currency conversion costs, cheaper credits and cheaper investment.

"Generally speaking, it means more and cheaper money. We will have to use this cheaper money properly and not delude ourselves into believing that cheaper investments or greater wish of an investor to invest in your project suddenly occurred because your project got cheaper - no, the money simply got slightly cheaper and the risk diminished. This is a good thing, yet, we must still look for good ways of investing," said the minister during a press conference on Tuesday.

Šadžius also said that consumers would probably face psychological challenges over the currency changeover.

"I will say it openly: personally I have not yet become accustomed to the euro and to look at the second line in euros on the price tag. But now I will be forced to do it since the price which I will have to pay will be in euros, and I will have to remember how much something used to cost in litas and whether it was expensive or not," he said.

It is forbidden to copy the text of this publication without a written permission from ELTA.
Įvertink šį straipnį
Norėdami tobulėti, suteikiame jums galimybę įvertinti skaitomą DELFI turinį.
  • 1
  • 2
  • 3
  • 4
  • 5
(0 žmonių įvertino)
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Wellness start-up Urban establishes development office in Lithuania

Urban was founded in 2014 by Jack Tang and Giles Williams to provide easy and affordable access to...

Profits in Lithuanian banking sector highest since 2007 (1)

Lithuanian banks and branches of foreign banks in Lithuania earned almost 358 million euros (406...

Alternative lending in Baltics is taking market share from traditional banks and credit unions

In the ever-growing European alternative finance market, Lithuania - together with other Baltic...

Global supplier to mobility industry to open shared service centre in Lithuania

Dana Incorporated, a world leader in highly engineered solutions for improving the efficiency,...

Lithuanian organizations join forces to manage fintech risks

Nine Lithuanian entities agreed on Monday to cooperate in managing risks in the financial technology...