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Luxembourg Prime Minister Jean-Claude Juncker believes that Lithuania will be able to implement the goals for itself to join the euro zone at some stage. Lithuania would like to have the euro in 2014.

“I believe that Lithuania will be able to implement the goals for itself,” Juncker said at a joint press conference with Prime Minister Andrius Kubilius.

The Luxembourg Prime Minister also said that the problems in the euro area should not be an obstacle to adopting the euro in Lithuania.

In order to adopt the euro, Lithuania has to meet the Maastricht criteria. This means that the fiscal deficit needs to be below 3 percent of gross domestic product (GDP) and debt must not exceed 60 percent of annual GDP.

Estonia was the latest country to join the common currency area, adopting the euro on Jan. 1, 2011. Estonia was congratulated as being the only country in the eurozone that actually satisfied the requirements for being a member of the common currency.

Source: lithuaniatribune.com