Lithuania will not be able to adopt euro in 2014 as the government had hoped, the country's president told news magazine Veidas on Monday. The center-right government of the Prime Minister Andrius Kubilius eyed 2014 as the earliest possible date for euro adoption as it aims to cut budget deficit to 3 percent of gross domestic product (GDP) in 2012.
"2014 is unrealistic (to adopt euro)," Lithuania President Dalia Grybauskaite told the magazine in an interview, when asked if the country still had an ambition to join the euro zone in that year. She did not elaborate. Several former Communist economies in Eastern Europe still harbour hopes of joining the currency club despite the debt crisis wracking the bloc, although in some states this appetite has recently become more lukewarm.
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