Lithuania’s adoption of Euro is confidence boost for Eurozone – MEP Hayes

Brian Hayes MEP (Dublin) has welcomed today’s decision by the European Parliament to support Lithuania’s adoption of the Euro.

“Lithuania will become the 19^th member of the Eurozone on January 1^st, 2015 in what will be a positive show of strength in the single currency,” Mr Hayes said in Strasbourg today (Wednesday).

Speaking in Strasbourg, Mr Hayes said: “The Lithuanian government and the national parliament have worked hard over the last years to ensure the country fulfilled the criteria for joining the Eurozone. Lithuania’s accession to the Euro is another confidence boost for a strong common currency which has weathered the economic crisis and speculative attacks. From 2015, with 19 members the Eurozone will comprise almost two-thirds of EU Member States marking another important step forward in this success story.”

The Fine Gael MEP said Lithuania has shown enormous effort since its first application was unsuccessful in 2006 to become the third Baltic State to adopt the Euro

“The EU is on track with the implementation of the Stability and Growth Pact, more responsible budgeting rules and a greater focus on job creation and economic stimulus,” Mr Hayes added.

545 MEPs voted in favour of Lithuania’s membership of the Eurozone today (Wednesday), with 116 voting against.

ENDS