Lithuanians not ready for euro integration

In spite of stable and quite expensive euro, not all the Lithuanians long to switch to the single European currency. Although recently more than half of citizens were optimistic assessing the economic and trade perspectives of joining the euro area, now the public support for the membership is declining. According to the latest social survey, the number of euroskeptics increased for the period from November 2013 to March 2014. Thus, last autumn 47% of Lithuanians were against the euro adoption, now the number has increased to 56%. More than that, the number of residents who back adoption of the euro contracted considerably for the last 5 months by approximately 6% to clock in at 34%. Besides, the situation has changed among those who were neutral to the euro. About 10% of respondents were indifferent to the matter, in November 2013 the rate of undecided interviewees was 11%. In such a way, the government is in the difficult situation. On the one hand, there are more opponents of the economic and political integration with Europe. On the other hand, there is no going back. The country is already on the threshold to the euro currency bloc and the voice of the citizens is just a formality. Lithuanian currency switch is expected in 2015. The middle of summer will be crucial to understand whether the country is ready to join the euro area or not. Besides, the experts are on lookout for the European Council to announce the official exchange rate. Preliminary data shows that it will remain at the current level at 3.4528 lit per 1 euro. Lithuania is going to be the last Baltic state to accept euro. Estonia has already entered the bloc on January 1, 2011. Latvia adopted the euro on January 1, 2014.