During his stay in Vilnius Representative of the European Commission Benjamin Angel has warned that there is confusion in Brussels about how the Lithuanian government, with the background of compensation for withheld pensions, will ensure the sustainability of the domestic financial discipline that is necessary to adopt the euro as soon as next year.
According to Mr. Angel, the European Commission is having difficulties evaluating
the Lithuanian budget deficit indicator regarding the ongoing political debate on how pensions that were reduced during the recession will be compensated for this year and in 2015.
An additional 88.6 million litas is needed for this year and a total investment of 443 million litas.
Signer of Lithuania's act of independence and independent financial analyst Valdemaras Katkus revealed on a Lithuanian Radio and Television show on January 6th that Lithuania does not fulfill the Maastricht criteria. To hide it, he claimed, the Lithuanian government embellished the 2014 budget and failed to include one billion in debt that must be returned to pensioners for previously withheld pensions.
