Benefits & Challenges of the Eurozone: A Lithuanian Perspective     Print Email
Friday, 17 April 2015

On April 17, 2015, The European Institute, in partnership with the Embassy of the Republic of Lithuania, held a discussion on Lithuania’s adoption of the Euro and the advantages and obstacles of the Eurozone with The Honorable Andrius Kubilius, former Prime Minister of Lithuania and Leader of the Opposition in the Lithuanian Parliament (Seimas), and Antonio de Lecea, Principal Advisor for Economic & Financial Affairs at the Delegation of the European Union to the United States. Mr. Kubiliusstated that Lithuania’s accession to the European Monetary Union was core to his country’s strategic infrastructure integration within the Euro-Atlantic community. Although the Lithuanian economy shrank by 15% during the financial crisis, it is now boasts one of the fastest growing in Europe. Looking ahead, Mr. Kubilius noted, Lithuania will prioritize biotechnology and service industries in order to build sustainable economic growth and ensure competitiveness in the global marketplace. Beyond the considerable achievements of the European Monetary Union since its creation,  Mr. de Lecea  more needs to be done in terms of investment, structural reforms, the integration of markets and the adjustment  of legal divergences that have so far stymied the creation of a proper banking union. If all member states reformed and narrowed divergences, they would see an annual growth of 6% over the next decade. In June, the Presidents of the Council, Commission, Eurogroup and the European Central Bank will release a medium to long-term blueprint to those ends.  

 
  • World Radio Conference Outcomes

    By Patricia Paoletta, Washington DC

    The latest World Radiocommunication Conference (WRC) wrapped up in late November after four long weeks of negotiations between 3400 delegates from around 165 Member States. All in all, the WRC resulted in positive outcomes for both 5G and Wi-Fi, and will benefit both the U.S. and Europe's communications agendas, particularly with respect to the decisions on spectrum to be allocated for the all-important 5G service. The effect will be to ensure the more rapid development of the next generation of mobile broadband in a manner consistent with U.S. planning and existing development.  Debates on 5G dominated the conference, but allocations for high-altitude platform stations (“HAPS”) sought by U.S. based firms were also favorable. As a result, plans to provide additional internet service to underserved areas may be accelerated.

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UMD Jean Monnet Research Project

The University of Maryland has received a Jean Monnet grant from the EU to conduct a series of policy exchanges between Europe and the US on filling infrastructure needs and the utility of public/private partnerships as the financing mechanism. If interested in participating in or receiving more information about these exchanges, please contact Rye McKenzie (rmckenzi@umd.edu).

New from the Bertelsmann Foundation

The Bertelsmann Foundation is an independent, nonpartisan and nonprofit think tank in Washington, DC with a transatlantic perspective on global challenges.

"Edge of a Precipice" by Nathan Crist

"Newpolitik" by Emily Hruban

 

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