Zanda Kalniņa-Lukaševica, Chairperson of the European Affairs Committee of the Saeima, congratulated Latvia’s neighbour Lithuania on achieving compliance with the Maastricht criteria as announced by the European Commission on Wednesday, 4 June; that constitutes official permission to begin introduction of the euro.

“Compliance with the Maastricht criteria attests to the correctness of Lithuania’s fiscal and economic policy, as well as the economy of the entire Baltic region. It indicates that Latvia, Lithuania and Estonia are located in a stable, secure and sustainable region, and sends a positive signal to investors,” said Kalniņa-Lukaševica; she also indicated that major international credit rating agencies recently have positively appraised the Baltic economy.

“Acknowledgement expressed by the European Commission to Lithuania and by international credit rating agencies to the entire Baltic region gives the green light to our further development,” Zanda Kalniņa-Lukaševica noted. She also indicated that the reforms which have been launched in Latvia must be continued, and a safe and creative business environment must be established in order to increase the welfare of its inhabitants.

Chairperson Kalniņa-Lukaševica also emphasised that the European Commission’s announcement is more than merely economic. “It also conveys a political message. Namely, on one hand, it attests to the readiness to welcome another party at the table where European economic and fiscal policy is shaped, and, on the other hand, it confirms Lithuania’s commitment to use this opportunity responsibly.”

The Chairperson also noted that Latvia, which joined the euro area in the beginning of this year, has gained valuable experience which it is ready to share it with its neighbour Lithuania.

Saeima Press Service