International importance of euro and the strategy of adoption of euro in Lithuania

Euro implementation and joining the European Monetary Union is one of most important task of economic policy in Lithuania. The paper analyses the possibilities of Lithuania to join the European Monetary Union and introducing the common currency, i.e. euro. The international importance of Euro, advantages and shortcomings of the common currency are discussed. The experience Germany has shown that adoption of Euro did not have a considerable influence on the price level in Germany, though it caused rise of some prices to a certain degree. On the other hand, psychological factors also had some influence on increasing in the prices. The strategy of adoption of Euro in Lithuania with taking into account the experience of other countries is presented. The perspectives of the European Monetary Union and Euro are discussed.