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Friday, 11 April 2014 19:29

As Lithuania gets closer to the euro, credit ratings go up Featured

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The Lithuanian circulation euro coins, whose design was finalized as far back as 2007 will all bear the national symbol which is the coat-of-arms of the State of Lithuania, the Vytis. The Lithuanian circulation euro coins, whose design was finalized as far back as 2007 will all bear the national symbol which is the coat-of-arms of the State of Lithuania, the Vytis. The Bank of Lithuania

Lithuania is scheduled to become the 19th member of the European single currency next year. Although the final decision on this issue will not be taken by the finance ministers of the EU countries until the beginning of July of this year but it seems that the switch from the Lithuanian litas to the euro from 1 January 2015 is already sealed, - provided there won't be any suprises.

An important decission on Lithunia and the euro was made this week, on April 7, in Brusselss where European Parliament’s economic and monetary affairs committee endorsed Lithuania’s bid to adopt the euro. In a similar move, Lithuania's parliament, the Seimas, adopted the law on euro adoption on April 11. On the same day, reacting on higher prospects that Lithuania will qualify for euro adoption next year, Lithuania’s credit rating was raised two notches, from BBB to A-, the fourth-lowest investment grade, by Standard & Poor’s.

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