On Friday European Merchant UAB was granted the license issued by ECB, European Central Bank through the Bank of Lithuania to engage in specialized banking activities. The provision of services is planned to start in June 2019.
European Central Bank
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The cabinet’s tax and public sector policy is not contributing to resolving income inequality issues, Bank of Lithuania board chairman Vitas Vasiliauskas says.
The Netherlands is building new coalitions within the EU to compensate for the loss of the UK as the union's main free trade champion, and has found partners in the Baltic States. At the same time, a domestic policy issue involving gas supplies and the Dutch stance on Russia have the potential to pu...
Antanas Guoga tells us why he is betting big on blockchain technologies. The Lithuanian EPP group deputy knows a winner when he sees one, and he is very excited by the opportunities that blockchain technologies can offer. He finds the technology "fascinating".
Record-low interest rates and employees' confidence about their financial future have been heating the Lithuanian real estate market.
Growing consumer prices have irked many in Lithuania a year and a half after the country switched to the euro. While the prime minister has blamed it on retailer mark-ups, economists point to other reasons.
Sweden's banking group SEB is considering to introduce negative interest rates on deposits held by large business clients in the Baltic States, vz.lt reports.
Negative interbank interest rates are making life easier for Lithuanian borrowers, both consumers and businesses, but Lithuania’s financial experts are worried that it may create another financial crisis and could be sign of a coming economic downturn.
Lithuania's economy will grow by 2.8% in 2015 despite a range of headwinds, driven on by increased consumer spending, low oil prices and a recovering Eurozone, according to SEB Bank’s latest projections.
Lithuanian consumers and businesses saved some €40 million due to lower interest rates after the adoption of the euro a year ago, economists at the Bank of Lithuania say. Costs were also cut on currency exchange and due to lower rates on international money transfers.
On 19 November, a shipment of euro banknotes arrived in Vilnius International Airport. From there, the euro banknotes, with a police escort, were safely delivered to the Bank of Lithuania's vaults, the country's central bank said.
The Lithuanian government on Monday approved a deal on a three-year 86-billion-euro bailout for Greece from the European Stability Mechanism (ESM) and the disbursement of the first tranche of 26 billion euros.
The Lithuanian government on Thursday approved in principle the European Commission's decision to negotiate, together with the European Central Bank and the International Monetary Fund, with Greece on financial assistance to the country under the European Stability Mechanism (ESM).
The Lithuanian cabinet of ministers on Thursday is to hold an extraordinary meeting over Greece's debt crisis.
Economist Dr.Zoltan Pogatsa believes that the Eurozone states of the former Eastern bloc have been duped by the major powers into firmly opposing Greece. They are being led to believe that Athens is damaging to their economies. It's all a deception, the Hungarian professional of political economy ar...
A "No" vote in Greece's referendum on Sunday would weaken chances for Athens to reach an agreement with its creditors, Vitor Constancio, vice-president of the European Central Bank, said in Vilnius on Friday.
The European Central Bank's support to Greek banks, the so-called Emergency Liquidity Assistance (ELA), is likely to continue, the Lithuanian central bank governor said on Tuesday.
After negotiations between Greece and its international lenders failed, the country's future in the eurozone may not be settled until this autumn, says Lithuania's Finance Minister Rimantas Šadžius. Asked to comment whether Greek banks will open on Monday, the minister said he was not sure.
The Bank of Lithuania forecasts that this year, due to the worse situation of exporters, the country's GDP will grow 2 percent. The previous forecast was 2.7 percent. Next year, economic development is projected to accelerate to 3.4 percent (the previous projection was 3.5 percent).
