Lithuania introduces the Euro on 1-Jan-2015

[chrisild]

From the EBS program for tomorrow.

Christian

[chrisild]

It's official now - as from 1 January 2015 Lithuania will be part of the euro area. The conversion rate is 1 EUR = 3.45280 LTL - no surprise as this has been the central ERM-II rate for years. Some practical info:

On 23 October, a euro exhibition will open in Vilnius. Also, there will be a euro campaign website at http://www.euras.lt - as far as I can tell, that has not gone live yet. But euro related information can also be found here: http://www.lb.lt/euro

In the first two weeks of January, both euro and litas can be used. As from 16 Jan 2015, only the euro notes and coins will be legal tender. There will be various ways of exchanging litas cash, free of charge:

* In Lithuania: Notes and Coins
- Until 1 March 2015, all banks and more than 300 post offices will exchange litas into euro.
- Until 30 June 2015, all banks provide the same service.
- In the second half of 2015, some banks continue a free exchange service for litas notes.
- The central bank (Lietuvos Bankas) will exchange litas cash into euro indefinitely (without any time or amount limit).

* Elsewhere in the Euro Area: Notes only
- The national central banks and their branch offices in other euro countries will exchange litas notes into euro for two months, in January and February. This service is also free but limited to a volume of €1,000 per customer/day.

Christian

[chrisild]

For some reason the "main address" of the euro campaign website still does not work here. Tried various devices and browsers -- nothing. But if you add the language shortcut to the URL, it suddenly works. Try it out here:

http://www.euras.lt or http://www.euro.lt  -->  All I get is an empty browser window.

http://www.euro.lt/en/  -->  Ta-daa, the site in its full glory.

Christian

[Bimat]

Lithuania builds world's largest-ever coin pyramid

Last Updated On 30 November,2014

VILNIUS: (AFP) - The Baltic nation of Lithuania on Saturday unveiled what it billed as the world s largest-ever coin pyramid ahead of its switch from the litas currency to the euro on January 1.

Volunteers spent nearly three weeks arranging one million coins, worth 10,000 litas (2,900 euros), into a pyramid over one metre (yard) tall.

"We have certainly beaten the world record. Previously, the biggest pyramid of this kind was made up of 600,000 coins", said 26-year-old volunteer Domas Jokubauskis. All the coins will eventually be donated to a children s charity

The Baltic nation of three million, which joined the EU in 2004, will become the 19th member of the eurozone on January 1, 2015.

Its neighbours Estonia and Latvia joined the European single currency in 2011 and 2014 respectively, eyeing improved investor confidence.

Lithuanians are divided over the currency switch, with 47 percent supporting it and 49 percent against it, mainly due to fears of price hikes, according to a Eurobarometer survey in September.

The litas helped to consolidate Lithuania s statehood on the two occasions it restored independence from Moscow, in 1918 and 1990.

The new euro coins will still feature the national coat of arms -- featuring a knight on horseback with a sword and shield -- which has identified the country s currency since the 14th century.

Source

[Bimat]

An image of the pyramid can be seen here.

Aditya

[chrisild]

Thanks!   Here is another one; if the embedded image does not show, click here. More info and images at this site; there in an English version too, but it does not have the images, I think ...

Christian

[Figleaf]

The men seem to love the toy, while the woman has a "will they ever grow up?" look on her face

Peter

[chrisild]

Maybe she is better at wearing funny sweaters, but obviously she was actively involved in making that pyramid. Nice idea anyway ...

Christian

[Bimat]

The Lithuanian starter kits and tourist sets (mintage: 5000) are out now...

Aditya

[chrisild]

New Year's party, fireworks and lights in Vilnius.

https://www.youtube.com/watch?v=bWrpMwlkJlM

Christian

[Figleaf]

A good party is always welcome and good to see. The fireworks are a bit tame, though. The Dutch burnt up €65 million in fireworks in the past few days, most of it in the four hours around midnight yesterday. That would be about €4000 every second, four hours long.

Peter