Eurogroup

The Eurogroup thinks that Lithuania's planned new social model, a package of legislation on structural labour market and pension system reforms, in 2017 would be compatible with fiscal discipline.

Lithuania has been commended by the Eurogroup, the meeting of eurozone's finance ministers, for its efforts to cut budget deficit and rein in public spending, says Finance Minister Rimantas Šadžius.

The Eurogroup, which has discussed the European Commission's (EC) recent assessments of 2016 Draft Budgetary Plans (DPBs) of the Eurozone member-states, expressed doubts about the EC assessment of the Lithuanian economic cycle

The Lithuanian Ministry of Finance has submitted the country's draft budget to the European Commission (EC) and the Eurogroup. Such obligation arose for Lithuania when it became a member of the eurozone in January 2015.

If eurozone finance ministers agree on Friday on a long-term assistance program for Greece, the Lithuanian government will discuss this issue on Monday.

Debt-ridden Greece will hardly be able to pay 1.6 billion euros to the International Monetary Fund (IMF) by June 30 without external financial support, Lithuania’s Finance Minister believes.

Greek Prime Minister Alexis Tsipras held "friendly and constructive" debt talks with the leaders of France and Germany Thursday, but gave no sign of a breakthrough ahead of a crucial June deadline.

Greece could learn from Lithuania how to implement reforms during the crisis instead of focusing on getting external support, Finance Minister Rimantas Šadžius said on Friday as he arrived at the Eurogroup’s meeting in Riga.

Lithuania’s Finance Minister Rimantas Šadžius does not expect any fast-track solutions to be found in negotiations between the European Union (EU) and Athens on Greece’s financing, which would help the country avoid a debt default.

Eurogroup President Jeroen Dijsselbloem has congratulated Lithuania on joining the euro area.