Lithuania in second attempt to join euro

Around eight years ago Lithuania was the first among the Baltic states in line to join the euro. The economy had been growing fast after the country re-gained its independence from the Soviet Union and it was planning to be a part of the single currency from 1 January 2007.

But in spring 2006, the EU commission took an unprecedented decision and said Lithuania was not fit to join. Inflation was too high, standing at 3.5 percent instead of the target of 2.7 percent.

The inflation ...