All of the major events of the week are left behind. Statistics presented Fed shoot. After all this, the euro continues to climb, 8:30 MSK, Friday, June 20, reached 1,362 U.S. However, the overall market remains depressed. Summer lull makes itself felt.
Eurogroup supported Lithuania’s accession to the euro zone from 2015. This was announced at a press conference in Luxembourg after a meeting of the Eurogroup chairman Jeroen Deysselblum her. “Lithuania has fully complied with all the conditions for entry,” – he said.
The meeting approved the report on the implementation of Lithuania standards required for accession to the euro zone. Republic must meet the Maastricht criteria. In particular, the end of the fiscal year, the state budget deficit should not exceed 3% of GDP, public debt should not exceed 60% of GDP, inflation should not be higher than 1.5%.
Lithuania will become the 19th member of the eurozone. After extensive efforts the latest of the three Baltic countries, Lithuania joins the euro area. Path to the currency bloc appeared long. First application filed another country in 2006. However, the state is so small that is unlikely to have an impact on the euro as currency. However for Lithuania itself is a great test. Its economy is not in good shape – a marked de-industrialization, high commodity prices, low economic growth. Plus noticeable jump in price from the introduction of the European currency. All these problems must be solved, and the euro is unlikely to give an answer to certain questions.
