Press Releases

Financial discipline – key to economic recovery

Friday, June 24, Brussels - The European Summit, attended, among other heads of state, by President Dalia Grybauskaitė, agreed to the European Stability Mechanism, approved the European Commission's guidelines to the EU Member States, decided on support to Greece and discussed migration regulatory measures in the Schengen Area.

According to the President of Lithuania, the guidelines from the European Commission to Lithuania approved by the European Council are valuable but they should be seen only as an orientation of which way to go, leaving it to the country to decide which means and measures it should employ to stabilize its economy.

"Concrete measures, particularly in the area of taxation, are a matter of national competence of each individual Member State. Therefore, the guidelines approved by the European Council for Lithuania do not include the recommendation made previously to introduce a tax on cars," President Dalia Grybauskaitė said.

According to the President, Europe is willing to help Greece, but the Greek Government must adopt an efficient reform plan as soon as possible and to take resolute actions to settle the situation in the country.

"Financial discipline is, first and foremost, important for the country itself. Greece must start managing its finances and the support provided to it responsibly because debts will have to be repaid sooner or later and the burden of debt will fall on all people of Greece," President Grybauskaitė said.

The President also underlined the euro-zone may not exist without financial discipline. All countries must abide by the rules equally and implement their commitments responsibly.

Concerning migration problems, the European leaders underlined the free movement of persons within the Schengen Area was a fundamental freedom of the EU and one of the best achievements of European integration, and any restriction of this freedom could only be imposed for strictly limited period and when any other instruments have proved to be ineffective.