President of the Republic of Lithuania

Only united Europe will overcome crisis

2012-10-17

Wednesday, October 17, Vilnius - On 18 -19 October, President Dalia Grybauskaitė will attend the European Council Meeting in Brussels.

The heads of state or government of the EU member states will discuss proposals to strengthen supervision of the finance and banking sector in the euro area and will review progress in the implementation of measures to boost economic growth.

"The situation in Europe has direct impact on our economy. The EU countries are our major export partners. Therefore, it is in Lithuania's interest that the problems in the eurozone are addressed urgently and effectively," the President said.

The proposals are aimed at entrusting the supervision of all eurozone banks to the European Central Bank. This would strengthen the eurozone's banking system and help ensure effective solution of the existing problems.

According to the President, Lithuania during its Presidency of the EU Council in 2013 will have to address the issues relevant for the entire Community.

The President noted that Lithuania supported the proposed measures to promote economic growth and facilitate more rapid solution of the problems in the European Union, yet it would strive to ensure compliance with the principles of the EU's internal market and preclude different treatment of euro area and non-euro area countries.

The European Council will also focus on the EU-China relations and will assess the developments in Syria and Iran.

Prior to the European Council Meeting, President Dalia Grybauskaitė will coordinate Lithuania's position on key issues of the European Union at a traditional meeting of the heads of state and government of the three Nordic and three Baltic States (NB6).

Press Service of the President

Last updated 2012.10.17 14:45

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