BNS: Lithuanian president calls for end to discussions on euro adoption criteria
Updated 2009-05-08
VILNIUS, May 08, BNS - Lithuanian President Valdas Adamkus has urged for a halt to discussions on the legitimacy of established requirements for eurozone entry, calling instead for a clear agreement on this priority and coordinated political steps in view of approaching euro adoption in Lithuania.
The country's Head of State on Friday made this statement in a conference held on occasion of five years since Lithuania's EU accession. "I am deeply convinced that today we should not be questioning the requirements for the introduction of the euro. What we should do now is to agree on the euro area accession as a top priority, demonstrate its advantages to our people and seek to join the euro zone through coordinated actions in all policy fields. It is coherent and consistent policies across different areas and dialogue with both the people of Lithuania and EU institutions that we have been lacking until now," Adamkus said.
The president said he stands convinced that should Lithuania have stuck to budget policy and implemented structural reforms provisioned back in 2004, it would have already been in the eurozone and hence better prepared for the downturn at hand.
Euro adoption within an EU member state is possible only when the particular state satisfies the so-called Maastricht criteria, which requires to maintain price stability, cap budget deficit and debt and the long-term interest on government securities, as well as maintain a stable national currency. EU officials have taken a firm stance against suggestions to lower these criteria.
Lack of thinking ahead, consistent planning and coordination often impedes Lithuania's capacity for achieving its goals within the EU, the president told conference participants in the Seimas. "All of this will become very important when Lithuania takes over the EU presidency in 2013. It will be a real challenge for us - for our political maturity, administrative capacities and our awareness of our place within Europe," Adamkus said calling on the need to begin preparations. The crisis has overshadowed the economic achievements of European integration and the daily advantages our people and businesses benefit from just by being in the European Union, Adamkus said, reminding that the people of Lithuania and all of Europe are currently burdened by the economic
setback.
"However, we should keep a broader perspective of European integration. If not for EU membership, this crisis would definitel y be deeper for our country: Lithuanian companies would find it more difficult to continue trading on the EU market, while the people of Lithuania would confront more obstacles to traveling, studying or doing business in Europe," Adamkus spoke.
The Lithuanian Head of State also noted EU expansion as having contributed to a more rapid economic growth in Lithuania and other member states in the community, annually adding over one percentage point to Gross Domestic Product (GDP) growth.
Lithuania became a full-fledged member of the EU as of May 1 of 2004, together with the Czech Republic, Estonia, Cyprus, Latvia, Poland, Malta, Slovakia, Slovenia and Hungary.
