Benefits of the Euro
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● Lithuania’s participation in the euro area will help our country expand its commercial and financial ties with other euro area countries, and this will stimulate income and employment growth in Lithuania.
● When we adopt the euro, we will no longer have currency exchange expenses – this is beneficial for travelers, those studying and working abroad and those who trade with the EU countries.
● Lithuania’s participation in the single market of the EU and use of the euro will guarantee price stability (lower inflation rate), and this is socially important, because it will minimize swings in the purchasing power, and enterprises will have a better planning environment.
● The euro encourages more competition in the EU single market, resulting in better prices for consumers. Furthermore, it becomes easier to compare prices across the EU.
● Participation in the euro area will create conditions where people and enterprises are able to borrow at lower interest rates, thus increasing consumption and investment.
● While preparing to adopt the euro, or already using it, a Member State must abide by the EU financial discipline. This helps preventing the increase of the national debt and other major economic policy mistakes.
Until the euro is introduced, Lithuania cannot make full benefit of the advantages offered by the euro area.
