Lithuanian Prime Minister Algirdas Butkevičius thinks that Greece must stay in the eurozone and continue taking austerity measures.
© Reuters/Scanpix

"I do not think that we should recommend Greece to exit the eurozone," he said on Thursday on the radio Žinių Radijas.

Butkevičius recommends that Greece continue to cut budget spending, put in place public sector reforms and stick to austerity measures. He rules out the possibility of writing off Greek debts because this step could create new financial upheaval, he said.

"It goes without saying that current debts could hardly be written off because then some negative consequences would be seen in commercial banks which bought up securities, circulating in the secondary market. In fact, it should be analysed how to refinance some of the loans in order to minimise their interest and cut debt service costs to the budget," he said.

It is forbidden to copy the text of this publication without a written permission from ELTA.

Nauseda tops Lithuania's approval ratings

President-elect Gitanas Nauseda is the most favored politician in Lithuania, according to the latest...

Government proposes introducing equal university admission criteria

The Lithuanian government on Wednesday put before the country's parliament amendments on setting equal...

Over 500 children born in Lithuania after assisted insemination

521 children have been born after assisted insemination in Lithuania over the past two years,...

Number of road traffic victims goes down

The number of road traffic victims in Lithuania has gone down at the fastest rate in the European...

Lukiskes prison to be moved out of Vilnius in July

Lukiskes Remand Prison , situated in central Vilnius , will be vacated in early July, six months...