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Lithuania & the Euro
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Jolanta Palumickienė
December 03, 2013
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Lithuania & the Euro
Jolanta Palumickienė
December 03, 2013
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Transcript
Jolanta Elzbutaitė LITHUANIA the €URO &
WHAT AM I GOING TO TALK ABOUT?
WHAT AM I GOING TO TALK ABOUT? Eurozone
WHAT AM I GOING TO TALK ABOUT? Eurozone Maastricht criteria
WHAT AM I GOING TO TALK ABOUT? Eurozone Maastricht criteria
Benefits
WHAT AM I GOING TO TALK ABOUT? Eurozone Maastricht criteria
Benefits Costs
EUROZONE
MAASTRICHT CRITERIA
1,8 STABILITY inflation PRICE
Criterion indicator 2,2 (LV, SE, IE) 1,8 STABILITY inflation PRICE
Criterion indicator 2,2 (LV, SE, IE) 1,8 STABILITY inflation PRICE
Criterion indicator 2,2 (LV, SE, IE) 1,8 STABILITY inflation PRICE
1,8
Government deficit GOVERNMENT BUDGETARY POSITION
Government deficit GOVERNMENT BUDGETARY POSITION
<3 % Government deficit GOVERNMENT BUDGETARY POSITION
<3 % Government deficit GOVERNMENT BUDGETARY POSITION
<3 % Government deficit 3,2 % GOVERNMENT BUDGETARY POSITION
General government debt GOVERNMENT BUDGETARY POSITION
<60 % General government debt GOVERNMENT BUDGETARY POSITION
<60 % General government debt 40,5 % GOVERNMENT BUDGETARY POSITION
EXCHANGE RATES 3,4528 15% ±
LONG-TERM INTEREST RATES
LONG-TERM INTEREST RATES Criterion indicator 5,1 (LV, SE, IE)
LONG-TERM INTEREST RATES Criterion indicator 5,1 (LV, SE, IE)
LONG-TERM INTEREST RATES Criterion indicator 5,1 (LV, SE, IE) LT
3,9
BENEFITS scenarios BASELINE CONSERVATIVE
INTEREST RATES = INVESTMENT CONSUMPTION =
CURRENCY EXCHANGE COSTS 1,9 billion LT
CREDIT RISK
EXPORT
GDP
UNEMPLOYMENT
COSTS
LOSS OF LITAS
LOSS OF ABILITY TO DEPRECIATE CURRENCY IN RECESSION
THE INCREASE OF PRICE LEVEL
THE INCREASE OF PRICE LEVEL 0.2 - 0.3 %
ONE-OFF EURO ADOPTION COSTS
ONE-OFF EURO ADOPTION COSTS 0.6 - 0.9 billion lt
FINANCIAL CONTRIBUTIONS
FINANCIAL CONTRIBUTIONS 1 billion lt
FINANCIAL CONTRIBUTIONS 1 billion lt 148 million lt
How much could have Lithuania saved if it had adopted
the euro in 2007? 6,2 - 7,8 billion LT
How much could have Lithuania saved if it had adopted
the euro in 2007? 6,2 - 7,8 billion LT
REFERENCES http://epp.eurostat.ec.europa.eu/statistics_explained/ index.php/Glossary:Maastricht_criteria ! http://lb.lt/ impact_of_the_euro_adoption_on_the_national_economy_an_overv iew_of_the_quantitative_assessment ! http://lb.lt/euro !
http://www.worldissues360.com/index.php/the-benefits-and- disadvantages-adopting-the-euro-5835/
Thank you !