EU parliament shows green light to Lithuania to join eurozone

The European Parliament Wednesday voted in favour of Lithuania joining the euro on 1 January 2015.
Parliament's recommendation was passed by 545 votes to 116, with 34 abstentions, noted an EP press release.
The EP welcomed the fact that Lithuania has met all the euro eligibility criteria: 12-monthly average inflation 0.6 % (well below the EU reference value of 1.7%); a general government deficit in 2013 of 2.1% of GDP (EU reference value: 3%) and a gross debt ratio of 39.4% of GDP (well below the EU 60% reference value).
Lithuania is to become the 19th member of the Eurozone, after Latvia (2014), Estonia (2011), Slovakia (2009), Cyprus and Malta (2008), Slovenia (2007), Greece (2001), and Belgium, Germany, France, Ireland, Spain, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland (1999).
A final go-ahead for Lithuania is expected from the EU Council of Ministers on 23 July.