Press Release: Commission assesses eight EU countries’ readiness to join the euro area; proposes that Lithuania join in 2015

On 4 June 2014, the European Commission released its 2014 Convergence Report, which assessed eight Member States' readiness to join the single currency. These countries made uneven progress on the road to euro adoption, but Lithuania stood out from this group as it came out as fulfilling the convergence criteria. The Commission therefore proposed that the EU Council of Ministers decided that Lithuania could adopt the euro on 1 January 2015.

The Council was scheduled to take the final decision on the matter in the second half of July 2014, after EU Heads of State and Government have discussed the subject at the 26-27 June European Council, and after the European Parliament has given its opinion.

• Primary Source

European Commission: RAPID: MEMO/14/391: The 2014 Convergence Report and Lithuania: frequently asked questions on euro adoption http://europa.eu/rapid/press-release_MEMO-14-391_en.pdf

ESO: Background information: Lithuania expresses 'will' to join euro in 2015 http://www.europeansources.info/record/lithuania-expresses-will-to-join-euro-in-2015/

European Commission: DG Economic and Financial Affairs: Publications: European Economy, No.4, 2014: Convergence Report 2014 http://ec.europa.eu/economy_finance/publications/european_economy/2014/pdf/ee4_en.pdf

European Commission: RAPID, SPEECH/14/425: Speaking points by Vice-President Olli Rehn on the 2014 Convergence Report http://europa.eu/rapid/press-release_SPEECH-14-425_en.pdf

The New York Times, 04.06.14: Lithuania Moves Closer to Joining Euro Zone http://www.nytimes.com/2014/06/05/business/international/lithuania-moves-closer-to-joining-euro-zone.html

BBC News, 4.06.14: Lithuania 'ready to join euro' in 2015 - EU Commission http://www.bbc.co.uk/news/world-europe-27697611

EUObserver, 04.06.14: Lithuania set to join eurozone in 2015 http://euobserver.com/news/124488

EurActiv, 04.06.14: Lithuania ready to adopt euro, Commission says http://www.euractiv.com/sections/euro-finance/lithuania-ready-adopt-euro-commission-says-302598

Balkan Insight, 05.06.14: Romania, Bulgaria Not Ready to Adopt Euro http://www.balkaninsight.com/en/article/romania-bulgaria-not-ready-to-adopt-euro

Eurogroup: News, 19.06.14: Remarks by Jeroen Dijsselbloem at the press conference http://www.eurozone.europa.eu/newsroom/news/2014/06/remarks-by-jeroen-dijsselbloem-at-the-press-conference/

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