Yesterday the European Union General Affairs Council of Ministers has adopted the final decision on Lithuania’s participation in the Economic and Monetary Union (EMU) from 1 January 2015. From this date Lithuania will become the 19th full-fledged member of the eurozone, which will start using the euro as the single currency of the European Union.
On 10-13 July 2014, Lithuania for the second time will host the Meeting of World Lithuanian Youth. The festival, covering the subjects of business, science, politics, and culture, is intended to encourage interaction and cooperation between the Lithuanian youth living in Lithuania and abroad.
International credit rating agency Fitch has positively assessed consistent steps of Lithuania in pursuit of public finance sustainability and the fact that during the meeting of the EU economics and finance ministers (ECOFIN) the recommendation to adopt the Euro in Lithuania in 1 January 2015 was approved, and upgraded Lithuania’s long-term borrowing rating from BBB to A-.
28 June – 6 July are the days when the traditional Lithuanian Song Celebration “Here is My Home” draws thousands of participants and spectators. It was first held in 1924 and takes place every four years.
The Lithuanian athletes have succeeded to snatch gold, silver and bronze in the European Rowing Championships in Belgrade (Serbia) this weekend. Gold in men’s double sculls was taken by Saulius Ritter and Rolandas Maščinskas, and silver in women’s double sculls – by Milda Valčiukaitė and Donata Vištartaitė, while bronze went to Mindaugas Griškonis in men‘s single sculls.
Lithuania has been ranked 34th by the IMD World Competitiveness Yearbook 2014, and is ahead of other EU member states such as Latvia, Poland, Spain, Italy, and others. This year Lithuania has reached the leading position in terms of the most favourable price for office rent and currency exchange rate stability, and had the highest rate of literacy.
Investors’ Confidence Index in Lithuania, published by the Investors’ Forum, has revealed positive business expectations. The majority of investors see business development prospects as positive in terms of growing demand for goods and services, as well as new jobs.
Lithuanian pavilion opened together with the Cannes Film Market on the 14th of May. During the market, Lithuanian feature-length films Redirected and The Gambler (Lošėjas) will be presented to film professionals from abroad. The Lithuanian Film Centre announced that the Lithuanian pavilion will promote Lithuanian films and present the income tax relief, which sets favourable conditions for film-making in our country.
The British weekly newspaper The Economist has presented a summary of GDP growth history of countries that joined the EU in 2004. The obvious winners are Lithuania, Poland, Slovenia and Latvia – they have expanded their GDP by more than 40% in the last decade.
From now on the Lithuanian capital Vilnius has its own brand, which will be first presented in May at the Eurovision song contests that will take place in Copenhagen. Lithuania will be represented by Vilija Matačiūnaitė and her team who will wear custom decorated T-shirts with the attributes of Vilnius.