Eurozone to welcome the third Baltic state – Lithuania

Agne Limante, PhD (Vilnius University), MA (King’s College London)
Lecturer at Vilnius University and European Humanities University

litas

The new year for Lithuania also means a new currency – on 1 January 2015 this small Baltic state became the 19th member[1] of the Eurozone and will replace its Litas with Euros. Though many countries have hardly ever changed their currency or considered such change as a huge challenge, for Lithuanians it is not exactly so – the Euro will be the eighth currency during the last hundred years and the fourth during the last 25 years. Since fall of Soviet Union in 1990s, Lithuania changed ruble to the temporary talonas, in 1993 reintroduced Litas and now is turning to Euros. Nevertheless, change to Euros is seen as an important step having political and financial effects.

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