Lithuania became the 19th country in the euro zone – Boursorama

Lithuania became the 19th country in the euro zone – Boursorama

information panel on the euro in a bank in Vilnius, December 27, 2014, to five days of the passage of the country to the European single currency (AFP / Petras MALUKAS)

Lithuania Password Thursday the euro in the hope of strengthening its security, challenging both the fears of price increases than the evils of the single currency area.

At midnight (2200 GMT), it will become the 19th member of the euro area, while the leaders of the three Baltic countries withdraw the first European distributor bills and fireworks greet the event in the sky of Vilnius.

completing the accession of the three former Soviet republics in the single currency – Estonia had adopted in 2011 and Latvia in 2014 – Lithuania sees “a symbol of a more integrated economic and political with the West, “said President Dalia Grybauskaite.

” This symbolically marks the final stage of our integration in the European Union, and represents our security, not only economic but also policy, “she said in a statement released by his office.

Map of euro area and Lithuania, with key indicators in the country (AFP / S. Ramis / E. Tôn, S. Ramis / E. Tôn)

The event coincides with the statement the role of the younger members of the EU: the former Polish Prime Minister Donald Tusk chairs in recent weeks the European Council, while Latvia is January 1st the EU’s rotating presidency

. the Baltic countries, out of a half-century of Soviet occupation in the early 90s, joined the EU and NATO in 2004.

Today, they observe with concern the political Kremlin in Ukraine and the intensified activity of the Russian armed forces near their borders

-. 53% –

According to a survey published in November by the central bank on three million inhabitants, some 53% support the transition to the euro and 39% against.

The Lithuanian Finance Minister Rimantas Sadzius recently estimated in a statement to AFP that “reasons security are among the causes of popular support for the euro. “

For the lawyer of 26 years Karolis Turcinavicius, the benefits are obvious. The euro “leads to greater integration with the EU and makes travel easier,” he said.

But the retired Danute Petkeviciene remains skeptical. “The euro will not increase our pensions and our salaries, it will raise the prices,” she said outside the headquarters of the central bank as a clock displays the countdown.

” We will see prices rise in the next six months, “provides another resident of Vilnius, in front of a bus stop decorated with a large poster:” The euro arrives in Lithuania “

A poster in a shop in Vilnius with the price in litas and euros on December 27, 2014, five days before the country’s transition to the single European currency (AFP / Patras MALUKAS)

The accession of Lithuania will impact the voting modalities in the Governing Council of the European Central Bank (ECB), where four countries instead of three will now be forced to refrain monthly turns .

The Baltic country joined the euro area a few days after the announcement of early parliamentary Greece who fear a new start of the debt crisis.

Vilnius has pledged hundreds of millions of euros to the European rescue fund to help indebted countries south.

“These commitments are a big load and increase our debt. We should push our membership,” thinks the financial analyst Valdemaras Katkus.

The government insists on the positive experience of Estonia and Latvia.

The litas was pegged to the Euro since 2002 and Vilnius had the leap between the two currencies in 2007 but the crisis has delayed everything and imposed an austerity policy. This has led many Lithuanians to seek work abroad, especially in Britain, while contributing to revive the Lithuanian economy that is experiencing more growth than the major countries of Western Europe .

The European party Wednesday evening will be marked by video projections in major cities while the bars guests can enjoy “euro cocktails” – without alcohol.

Prudente, the central bank recommended Lithuanians to source banknotes: payment cards may not work for a few hours

In Brussels, a huge. banner was hung on the building of the European Commission, with the image of one euro coin adorned with the Lithuanian national emblem, a knight with a sword and a shield. “Welcome to Lithuania in the euro area,” she said in English, Lithuanian, French and Flemish.

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