Press Releases

Fiscal compact treaty will serve the interest of all EU member states

Monday, January 30, Vilnius - Today President Dalia Grybauskaitė participates in an informal meeting of members of the European Council in Brussels. The agenda of the meeting includes the approval of the European fiscal compact treaty and the discussion on measures aimed to promote the economic growth and job creation in Europe.

The President said that a new fiscal compact treaty would be in the interest of the whole European Union as it would introduce an obligatory provision that a country's budget should be balanced or surplus. Eurozone countries, and other EU member states upon accession to the treaty, will have to transpose such provision into their national legislation.

According to Dalia Grybauskaitė, this provision is a strict obligation for the countries to observe fiscal discipline which will help to overcome the protracted debt crisis in the eurozone, to ensure stability and prevent financial populism.

Lithuania intends to accede to this treaty. Our country is already implementing the financial discipline measures stipulated in the European stability and growth pact.

The discussions of the heads of state or government of the EU member states will also focus on promotion of employment, small and medium-sized business, and on strengthening the single market.

Press Service of the President