Lithuania hopes to join Eurozone

Country:  Lithuania

31 January 2008

The President Lithuania, Valdas Adamkus, believes that the European Union will finally approve his country’s attempts to adopt the euro currency in 2011.

The Baltic State of Lithuania had initially hoped to complete its European transformation – after joining the EU in 2004 – by taking the European currency on in 2007. However, the country had to postpone its plans because of rising inflation, which was 0.1% over the level set by the Maastricht treaty in 2006.

Editor’s comment
Although inflation remains a concern, there are now better measures in place to keep it under control. This ultimately means interest rates in the Baltic States should fall towards the Eurozone level, which should be good news for the Lithuanian property market, which has recorded significant growth in recent years.

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