According to Šimkus, Europe’s economic potential and resilience to external shocks could be enhanced by further integration, which would not only boost the region’s strategic autonomy but also ensure an increase in industrial capacity, including defence.
These are the topics of discussion for Lietuvos bankas’ Annual Economics Conference taking place on Monday in Vilnius. This year’s conference is dedicated to the 10th anniversary of the euro introduction in Lithuania.
"By adopting the euro, Lithuania demonstrated that the European project is attractive. And its objectives of economic stability and geopolitical cohesion continue to hold appeal. We should not only continue to stay together but should also further deepen our integration: improving our single market modus operandi, increasing growth and productivity and enhancing institutional capabilities," Šimkus said.
The central bank’s governor also highlighted that the further economic integration of the EU must also reflect the goals of enhancing security. They must cover not only defence spending but also investments in new technologies, energy security and critical infrastructure, which is one of the key prerequisites for sustainable economic growth.