Lithuanian Presidency will concentrate its efforts on financial stability and growth

08 July 2013, Last updated at, 09:40 EEST
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Lithuanian Finance Minister Rimantas Šadžius | author: The Council of the European Union

European Union Economy and Finance Ministers will discuss the Programme of th Lithuanian Presidency and take final steps to approve Latvia’s accession to the Euro area during the ECOFIN Council meeting in Brussels on July 9. Lithuanian Finance Minister Rimantas Šadžius will chair the first meeting of the Lithuanian Presidency of the ECOFIN Council and present its goals and priorities.

“In spirit of cooperation and compromise we will concentrate our efforts on continuing to build sound, transparent and resilient financial markets and paving way for sustainable growth of Europe,” Minister Šadžius said.  
The Lithuanian Presidency will focus on strengthening the ground for financial stability and sound public finances, which are necessary preconditions to fully restore EU’s economic credibility. The top priorities in the area of economy and finance include the developing of the Banking Union, timely approval of European Union Budget for 2014, taking effective steps in the fight against tax evasion and fraud.
“With the view of elections of the European Parliament and appointment of the European Commission next year, the Lithuanian Presidency is expected to deliver concrete results on a large number of legislative proposals, which are of key importance to Europe and its citizens. Our task is to ensure that the European legislation progresses in effective and impartial manner,” Minister Šadžius said.  
Following the recommendation adopted in the ECOFIN Council meeting of June 26 and positive assessment by the European Council of Latvia’s convergence as well as fulfilment of all the convergence criteria as set out in the Treaty, the EU Economy and Finance Ministers are expected to take final steps to approve Latvia’s accession to the euro area from January 2014, including adopting the respective Council decision and regulation setting a permanent conversion rate for the Latvian lats per euro.
The ECOFIN Council agenda will also include discussions on the follow-up to the European Council of June 27–28 relevant to ECOFIN and preparation for the G-20 meeting of Finance Ministers and Governors on July 19–20 in Moscow.
The Council is also expected to approve documents giving guidance on the implementation of the “Two-pack” economic governance regulations and adopt the set of country specific recommendations under the European Semester.
Over lunch, the Ministers of Finance will meet their counterparts from the candidate countries – Turkey, the Former Yugoslav Republic of Macedonia, Montenegro, Iceland and Serbia – to discuss economic policies in these countries.

For more information please contact:

Rosvaldas Gorbačiovas
Ministry of Finance   
+370 5 239 0008
+370  616 94846

Vykintas Pugačiauskas
Spokesperson in Brussels, COREPER II
+32 24019836
+32 477701528

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