Lithuania begins euro transition preparation

The Lithuanian government approved a proposal on Wednesday 3 March for the country to join the European Union's exchange rate mechanism, which is crucial before Lithuania can join the euro.

The government instructed Finance Minister Dalia Grybauskaite and the Bank of Lithuania's head Reinoldijus Sarkinas to submit an application for joining the EU's exchange rate mechanism. A decision on this issue will be made by the euro zone's economic and finance ministers and the European Central Bank wit

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