Presidential adviser: Fiscal discipline is necessary for Lithuania

“Fiscal discipline is the foundation of the state that is the most important for Lithuania. It is a prerequisite for a timely payment of wages, sufficient and flexible functioning of corporate finances, and appropriate functioning of all spheres of life. Hence it would be difficult to speak about other important things if there was no fiscal discipline. And this shall be enshrined in national law. First of all, it is necessary to ratify the fiscal discipline treaty signed by the European leaders and other necessary legislation that would consolidate compliance with fiscal discipline now and in the future,” he said in an interview to Žinių Radijas radio station.

Earlier this month, Lithuania’s parliament (Seimas) opened debates on Grybauskaitė’s proposal to ratify the European Union’s (EU) fiscal discipline treaty drafted in response to the debt crisis in the euro zone.

The Treaty on Stability, Coordination and Governance in the Economic and Monetary Union was signed on 2 March 2012 by all European Union states except the United Kingdom and the Czech Republic.