"Lithuania backs proposed measures aimed at strengthening the EU's economic growth and stepping up solution of its problems. But the country will resist violations of EU internal market principles and creation of differences between euro zone and non-euro countries," Grybauskaitė said in a statement ahead of an EU summit.
On Thursday, the Lithuanian president is leaving for Brussels where EU leaders will discuss proposals on the creation of a banking union. The European Central Bank would be in charge of banking supervision after taking over the functions from national central banks, according to proposals.
The banking system, which would involve a deposit guarantee scheme in the future, would, first of all, be created in the euro zone but other EU member countries are also invited to join.
Lithuania has no plans to join the union yet as, based on the proposed model, it would have observer and not voting rights. Moreover, the country would not be able to make use of aid mechanisms to be created for the euro zone only, Lithuanian officials say.
On the other hand, Lithuania is not against the banking union in the euro zone. Grybauskaitė has underlined that EU member countries are Lithuania's key export partners and the Baltic country is interested in the resolution of euro zone problems as soon and effectively as possible.
The president also said in the statement that handing over part of functions to the European Central Bank "would strengthen the euro banking system and would help ensure quick and effective resolution of the existing problems."
EU leaders will exchange opinions on deeper integration on Thursday and Friday in Brussels, expected to lead to a stronger economic and fiscal union in the EU. Besides the banking union issue, a lot of attention will be paid to proposals on tightening national budget control by preventing overspending. Ideas to merge euro debts will be also a focus of the summit.
Lithuania hopes to join the euro zone in 2014-2015.
