Nordic and Baltic Prime Ministers meet to discuss financial crisis

 

Today, Prime Minister Gediminas Kirkilas has taken part at the Prime Minister meeting NB8 of Baltic and Nordic States (Denmark, Estonia, Island, Latvia, Lithuania, Norway, Finland and Sweden).

The agenda has focussed on the latest international economic developments and EU coordinated response to the global financial crisis. According to Gediminas Kirkilas, the financial crisis has not so far affected Lithuania as bad as other countries, nevertheless, the Government, in preparation for potential changes, has decided to make a one-year deposit insurance of up to EUR 100 000. The Prime Minister has said that the indicators of the banks operating in Lithuania have not been as yet giving any serious cause for concern. Lithuania seeks to adhere to Maastricht criteria as regards budget deficit and public debt. The Prime Minister has also pointed out that Lithuania is a part of the Nordic economy and is closely related with the Scandinavian capital and investment.

NB8 has been briefed by Icelandic Prime Minister Geir H. Haarde on the problems Iceland has been facing as a result of the global financial crisis.

Nordic and Baltic Prime Ministers have decided that a coordinated support from national governments is needed to appease financial markets and protect banking systems.
Other items on the agenda will be discussed during the NB8 working dinner.

Before the meeting of Baltic and Nordic Prime Ministers, Gediminas Kirkilas had a word with Swedish Prime Minister Fredrik Reinfeldt who assured the Lithuanian Prime Minister that the Swedish banks and their affiliations were not under imminent threat to be concerned of. The Prime Ministers also agreed to hold a meeting between Lithuanian-Swedish energy experts and politicians on how to advance the power bridge project.