Andrius Kubilius in Germany: No growth for EU without saving

"France and Germany are discussing what's more important – growth or saving. Based on Lithuania's experience, the answer is German – no growth without saving," Kubilius was quoted as saying in a statement.

The Lithuanian prime minister and members of his delegation started their German meeting with representatives of German companies and investment fund managers. During the meeting, Kubilius spoke about the financial and economic situation in Lithuania and the European Union, the need for further development of Lithuanian-German bilateral relations, and he also introduced Lithuania as an attractive country for foreign investors.

The Lithuanian premier also met with management of Deutsche Bank, one of the largest banks in Germany.

Germany has called on other EU member states in recent years to cut their budget deficits and implement saving policies. On Berlin's initiative, leaders of 25 EU member states signed a financial discipline agreement in March.

But European resentment over saving measures and socialist Francois Hollande's victory in the French presidential election have triggered calls to build a growth and employment strategy in the EU rather than focusing on financial discipline.

Kubilius will leave Germany for the Romanian capital Bucharest where is scheduled to attend a meeting of the prime ministers of the countries part of the group known as the "Friends of Cohesion Policy". The group unites countries that receive EU financial support through cohesion funds. The meeting will focus on the EU's new financial perspective. Kubilius will also hold a bilateral meeting with his Romanian counterpart.