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  • Latvia's minimum wage up to 360 euros a month; income tax also reduced
    Latvia was raised yesterday from 320 euros to 360 euros The minimum hourly wage rate was also increased from 1 933 euros to 2 166 euros Latvia s new minimum wage is higher than Lithuania s which is 289 62 euros per month but lower than Estonia s In Estonia the minimum wage is 390 euros a month It was also announced yesterday the income tax rate for residents of Latvia would be reduced from 24 percent to 23 percent 80 percent of income tax revenue goes to local government budgets while 20 percent goes to the national budget The Finance Ministry previously announced that the income tax rate will be reduced to 22 percent in 2016 Comments Related Articles U S heavy weaponry to be deployed in Latvia from autumn 2015 Latvia Lumbers Towards Higher Spending on Defence Russia Today requests permission to establish Latvian subsidiary Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Latvian government reaches for guns over health care Crude oil leaks from Latvia s VNT terminal Latvia and China discuss bilateral cooperation Drunk AirBaltic crew sentenced to jail in Norwegian court Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a merger between The Baltic Independent and The Baltic Observer in 1996 The Baltic Times continues to bring objective comprehensive and timely information to those with an interest in this rapidly developing area of the Baltic Sea region Read more Our news analysis

    Original URL path: http://www.baltictimes.com/latvia_s_minimum_wage_up_to_360_euros_a_month__income_tax_also_reduced/ (2016-02-13)
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  • Eesti Pank: Estonians still possess 47 million euros' worth of former currency
    of 40 4 million euros in banknotes and 6 75 million euros worth in coins have still not been returned from circulation The Estonian kroon was first introduced in 1928 during the country s first period of independence replacing the Estonian mark which had been used previously it remained in use until 1940 In 1992 one year after the restoration of Estonia s independence it was reintroduced as the national currency Last year 1 4 million euros worth of kroons were returned to Eesti Pank In 2013 it was over 1 8 mln euros in 2012 3 5 million euros worth Estonia became the first Baltic country to adopt the euro in January 2011 and was joined by Latvia three years later and Lithuania at the start of this year During 2011 318 million kroons were returned to Eesti Pank As of last year Eesti Pank is the only venue that still exchanges kroons for euros at an exchange rate of 15 6466 Comments Related Articles Concept of foreign policy has changed for Estonia Medieval ships uncovered beneath Tallinn building sites Go Rail ends Tallinn Moscow service for economic reasons Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Japan follows Estonia s lead with electronic ID cards Right wing parties launch 24 hour anti migrant rally Right wing parties launch 24 hour anti migrant rally in Tallinn The battle for the Estonian coastline Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia

    Original URL path: http://www.baltictimes.com/eesti_pank__estonians_still_possess_47_million_euros_worth_of_former_currency/ (2016-02-13)
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  • Lithuania becomes 19th member of Eurozone
    2013 The Lithuanian Parliament adopted the Law on the Euro Adoption in April 2014 while the plan for the introduction of the new currency was approved in the summer Good news came through from Brussels and Frankfurt in June 2014 the European Commission and the ECB analysed the latest macroeconomic data and confirmed that Lithuania now met all the Maastricht criteria In mid June Prime Minister Algirdas Butkevicius and Chairman of the Board of the Bank of Lithuania Vitas Vasiliauskas gave a start to minting Lithuanian euro coins Euro banknotes began arriving in Vilnius and Kaunas from Germany s Central Bank in October Lithuania s euro area accession procedure was officially completed on 23 July 2014 when the EU General Affairs Council finally decided to allow Lithuania to join the euro area on 1 January 2015 becoming its 19th member Lithuania has been working towards this goal for almost a decade since the very beginning of its EU membership by reforming the economy enhancing the financial system creating an image of a reliable and disciplined country on the international arena We will continue our responsible work after becoming members of the Eurozone We will seek to share our best practice and benefit from the advantages of the Economic and Monetary Union at the time said Minister of Finance Rimantas Sadzius Lithuanians had the opportunity to acquaint themselves with the new currency since 1 December 2014 when the Bank of Lithuania and commercial banks began selling euro coin starter sets 900 000 starter sets were made available and by the end of December approximately 100 000 were still on sale The demand for starter sets surpassed our expectations In this case the public was significantly more active than in Latvia which joined the Eurozone in January 2014 where 40 60 percent of sets were sold compared to 80 90 percent sold in Lithuania said Vitas Vasiliauskas Head of the Bank of Lithuania On 1 January 2015 the euro replaced Lithuania s previous currency the litas it had been in use since 1993 when Lithuania s independence was restored It was also the national currency between the wars from 1922 to 1940 The modern litas banknotes and coins were designed by artists Giedrius Jonaitis Justas Tolvaisis Antanas Zukauskas Rimvydas Bartkus Rytis Valantinas Raimundas Minkevicius Petras Garska Arvydas Kazdailis among others The banknotes featured the portraits of prominent and distinguished Lithuanians Honouring the new and the old currencies the Bank of Lithuania will give every museum in the country two banknotes and coins of the litas and the euro in every denomination The euro will become the only legal currency in Lithuania on 16 January Until then it will still be possible to make payments with the litas although change will be given in euros Including the distributed 900 000 starter kits currently there are about 0 62 billion euros in circulation in Lithuania which amounts to almost 28 percent of the total amount of cash in circulation Comments Related Articles Linkevicius to

    Original URL path: http://www.baltictimes.com/lithuania_becomes_19th_member_of_eurozone/ (2016-02-13)
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  • Russian suspect in 1991 massacre will remain in detention in Lithuania
    On March 12 he was arrested on the border between Lithuania and the Russian exclave of Kaliningrad and was placed in detention two days later Since the events Lithuania s Prosecutor General s Office has declared 79 citizens of Russia Belarus and Ukraine to be suspects On the night of January 13 1991 the Soviet army used force to capture the Television Tower and the Radio and Television building in Vilnius intending to topple the government of Lithuania which had been elected according to the appropriate juridical procedures and had announced the restoration of an independent state The Soviet army did not dare to attack the Supreme Council Reconstituent Seimas which was guarded by tens of thousands of Lithuanian citizens But the situation at the foot of the Television Tower still claimed victims 14 people were killed and over a thousand freedom fighters were injured when paratroopers drove military transport over the crowd and firing at unarmed people Comments Related Articles Linkevicius to replace Grybauskaite at London conference Ukrainian NSDC Secretary Russia waging hybrid warfare on EU Lithuanian Health Minister to resign over corruption scandal Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles NATO to bolster presence in Eastern Europe Lithuanian Foreign Minister slams Ukraine over insufficient anti corruption measures Refugee family relocated to Latvia left one child behind in Eritrea Report NATO would lose against Russia in invasion of Baltic states Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and

    Original URL path: http://www.baltictimes.com/russian_suspect_in_1991_massacre_will_remain_in_detention_in_lithuania/ (2016-02-13)
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  • Babies born on Jan 1 will receive first Lithuanian euro coins
    the Bank of Lithuania The first thousand of one euro coins with the Vytis an armour clad knight on horseback featured in the country s coat of arms were minted on 16 June 2014 by Lithuania Mint The first coins were placed in a special box and stored at the Money Museum of the Bank of Lithuania The Bank of Lithuania will provide as many coins as there will be babies born on 1 January The coins were infused in organic glass with an engraved inscription The First Lithuanian Euro for You The souvenirs were designed in Lithuania and made in Germany Parents of babies born on 1 January who agree to participate in the initiative will be presented the coins during a celebratory ceremony in the spring to mark 100 days since euro adoption Comments Related Articles Kaunas municipality begins refurbishment work on Jewish cemetary Lithuania supports Georgia s NATO aspirations NATO to halve Baltic air policing mission four jets to remain in Siaulai Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Mixed hopes in Vilnius for Belarus reset Lithuanian MEP migrant crisis will be a lingering issue Refugees to be questioned on religion and previous military activities by Lithuanian authorities Former KGB spy given Lithuanian residence permit Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a merger between The Baltic Independent and The Baltic Observer in 1996 The Baltic Times continues to bring objective comprehensive

    Original URL path: http://www.baltictimes.com/babies_born_on_jan_1_will_receive_first_lithuanian_euro_coins/ (2016-02-13)
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  • Lithuanian ambassador to Ukraine awarded Person of Year title
    Kiev for the last five years According to Lithuania s Minister of Foreign Affairs Linas Linkevicius Vaitiekunas has never played it safe before becoming ambassador to Ukraine he was ambassador to Belarus and Latvia and he has also held the position of Foreign Minister of Lithuania When Russian troops were near Tbilisi and nobody knew if they would stop or go further he was there While this year Vaitiekunas was the only ambassador of the European Union in the Crimea during the so called Crimea referendum said Lithuania s Foreign Minister Information provided by Vaitiekunas has not only helped in various foreign policy debates but has also helped the media Many journalists note that the ambassador has never refused to provide the latest information on events in Ukraine and that his statements are often more open than is typical from a diplomat Comments Related Articles Kaunas municipality begins refurbishment work on Jewish cemetary Lithuania supports Georgia s NATO aspirations NATO to halve Baltic air policing mission four jets to remain in Siaulai Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Mixed hopes in Vilnius for Belarus reset Lithuanian MEP migrant crisis will be a lingering issue Refugees to be questioned on religion and previous military activities by Lithuanian authorities Former KGB spy given Lithuanian residence permit Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a merger between The Baltic Independent and The Baltic Observer in 1996 The

    Original URL path: http://www.baltictimes.com/lithuanian_ambassador_to_ukraine_awarded_person_of_year_title/ (2016-02-13)
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  • Lithuania PM: Euro adoption will be beneficial for whole country
    join the euro area Butkevicius who is also leader of the Social Democratic Party assured ELTA news agency journalist Jadvyga Bieliavska that euro adoption will be beneficial for businesses consumers and Lithuania on the whole I am sure that the new currency will make us even stronger both economically and politically the head of the government stated Butkevicius who is leading in opinion polls said that he was pleased that his government made decisions in 2014 which will improve people s social and financial situation that preparation for the euro adoption has been completed as has the construction of the liquefied natural gas LNG terminal Butkevicius who has ambitious plans for 2015 predicts that the upcoming year will not be easy because of the objectives that have been set and due to changes in the geopolitical situation On the eve of the New Year the prime minister wished people more optimism unity and sincerity Comments Related Articles Kaunas municipality begins refurbishment work on Jewish cemetary Lithuania supports Georgia s NATO aspirations NATO to halve Baltic air policing mission four jets to remain in Siaulai Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Mixed hopes in Vilnius for Belarus reset Lithuanian MEP migrant crisis will be a lingering issue Refugees to be questioned on religion and previous military activities by Lithuanian authorities Former KGB spy given Lithuanian residence permit Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a

    Original URL path: http://www.baltictimes.com/lithuania_pm__euro_adoption_will_be_beneficial_for_whole_country/ (2016-02-13)
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  • Estonians' trust in Parliament, government much higher than EU average
    39 percent of Estonians The EU average is 30 Trust in national government is highest in Sweden 67 percent and lowest in Slovenia 9 percent The European Union is trusted by 52 of Estonians on average 37 of citizens of member countries trust the union Out of member countries the lowest score was recorded in Greece where only 23 trust the EU In contrast only 13 of Estonians trust their political parties and the support has declined by 9 since last year The Eurobarometer average is just 1 higher In France for example only 5 of those surveyed trusted their political parties Latvia and Lithuania were near the middle of the scale for both indicators In Lithuania 32 percent said that they tended to trust their government while 60 percent said that they did not in Latvia the figures were 28 percent and 64 percent respectively The level of trust in political parties was even lower than for Estonia just 9 percent of people in both Latvia and Lithuania trust political parties in their country The level of trust in the EU in the other two Baltic countries is similar to Estonia in Latvia 46 percent trust the union while 36 percent do not in Lithuania 59 percent express trust in the EU while 25 percent do not Comments Related Articles Concept of foreign policy has changed for Estonia Medieval ships uncovered beneath Tallinn building sites Go Rail ends Tallinn Moscow service for economic reasons Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Japan follows Estonia s lead with electronic ID cards Right wing parties launch 24 hour anti migrant rally Right wing parties launch 24 hour anti migrant rally in Tallinn The battle for the Estonian coastline Subscribe A subscription to

    Original URL path: http://www.baltictimes.com/estonians__trust_in_parliament__government_much_higher_than_eu_average/ (2016-02-13)
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