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Lithuania : The letter from the Finance Ministers is addressing the strengthening of the EU economic and monetary union.

Lithuanian Finance Minister Vilius apoka, together with finance ministers from Denmark, Estonia, Finland, Ireland, Latvia, the Netherlands and Sweden, signed a joint statement on the future of the EU Economic and Monetary Union. The common position of the parties emphasizes that compliance with the rules of fiscal discipline and the implementation of structural reforms, the completion of the Banking Union and the strengthening of the European Stability Mechanism (ESM) are among the top priorities.

"The economic and monetary union, together with the single currency, ensures economic stability and resilience to financial crises, higher growth and employment, and contributes to a better functioning of the single market. It is a tool to help achieve the goals of the European Union and improve the wellbeing of citizens living in EU countries, "says Finance Minister Vilius apoka.

In a joint letter to the representatives of the EU institutions and Member States, the issues discussed in the context of the completion of the EU Economic and Monetary Union are relevant to all EU countries, therefore, not only the euro area countries must be involved in the debate on this issue. This is also important for maintaining EU-27 unity.

The calls emphasize that for the sake of a strong Economic and Monetary Union, countries need to take the necessary structural reforms at national level and comply with the fiscal rules of the Stability and Growth Pact. It also expresses support for strengthening the ESM by transforming it into a European Monetary Fund and a commitment to end the Banking Union.

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Publication:Mena Report
Date:Mar 9, 2018
Words:268
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