President of the Republic of Lithuania

The President: global economic crisis calls for global measures

2010-11-08

Monday, November 8, New York - President of the Republic of Lithuania Dalia Grybauskaitė gave a lecture at Columbia University on measures to boost economic recovery and Lithuania's experience in mitigating effects of the economic crisis.

In the lecture, which attracted much interest from students and the academic community of Columbia University, the President underlined that ambitious fiscal consolidation and structural reforms must be implemented, financial sector reform must be sped up, and unemployment and social cohesion challenges must be addressed in order to overcome consequences of the economic crisis. According to the President, global crisis needs global response, and governments and international organisations all over the world must therefore take common action to address economic challenges and implement global solutions.

"The crisis has uncovered weaknesses in the global economic and financial system. The crisis offers its own lessons, but we need to be smart and creative today to ensure sustainable growth in the future. Only quick reaction, flexibility, openness to change and global coordination of economic policy will help overcome consequences of the crisis and boost global economic growth," President Dalia Grybauskaitė said.

Participants of the prestigious World Leaders Forum of Columbia University in the City of New York feature political leaders and prominent figures from the business world and civil society. Last year alone, lectures were given there by Presidents of France, Argentina, Guyana, and Serbia, the President of the European Commission, Prime Ministers of Spain, Nepal and Thailand.

Press Service of the President

Last updated 2010.11.08 19:00

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