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Lithuania to adopt euro on 1 January 2015

EU News 320/2014

Council of the European Union
ST 11952/14
Brussels, 23 July 2014

The Council today adopted a decision allowing Lithuania to adopt the euro as its currency.

The decision will enlarge the euro area to 19 member states, including all three Baltic states, and give Lithuania over five months to prepare for the changeover.

The Council also adopted regulations setting a permanent conversion rate for the Lithuanian litas to the euro, and adapting certain technical provisions.

The conversion rate is set at 3.45280 Lithuanian litas to the euro, which corresponds to the current central rate of the litas in the EU's exchange rate mechanism.

Euro notes and coins will be issued in Lithuania on 1 January 2015.

Source and additional information:

Participation of Jyrki Katainen, Vice-President of the EC, and Algirdas Šemeta, Member of the EC, in the festivities to celebrate the enlargement of the euro area to include Lithuania. Date: 23/07/2014 Reference: P-025956/00-28 Location: Brussels - Council/Justus Lipsius Rapid: MEMO/14/499 SPEECH/14/564 (C)EU, 2014 URL