Economics, EU – Baltic States, Financial Services, Lithuania

Dalia Grybauskaite.

''The euro adoption itself, as we see it in the majority of countries, is postponed due to the economic recession. Yet it is still possible to do that in the period between 2013 and 2015," the head of state told at the LTV broadcast programme Teise Zinoti on Wednesday.

The president noted that the government's debts, one of the factors determining the possibility of euro adoption for Lithuania in 2013, would depend on the ability to live bearing in mind our possibilities and not exceeding them, informs ELTA/LETA.

"Thus, everything will depend on the level of deficit. And we should certainly keep that level below double digits, then it is not so dangerous for such small country and open economy, a higher figure is already dangerous," President Grybauskaite said.

The president time and again noted that she did not dramatize the news that Lithuania's gross domestic product (GDP) dropped 22.4% in the second quarter of 2009 compared to the Q2 of 2008. According to the head of state, it meant that the virtual economic bubble was bursting.

"I am not terrified of the figures; they do not reflect the real economic situation. Our economy was largely of a virtual nature, we had artificial bubbles, therefore the figures were so high, but they did not reflect the real improvement in the economic situation," Grybauskaite said.