Lithuanians anxious as euro looms

Its neighbouring former Soviet republic Latvia joined the eurozone last year

A Lithuanian one euro coin (AFP/Getty)

Lithuanian businesses and individuals are worried about the effect the joining the eurozone as it becomes the final Baltic country to adopt the single currency on 1 January.

Nearly half of the Lithuanians surveyed declared themselves against the move to exchange the litas for the euro, while more than 80 per cent believed that prices will rise as a result.

Its neighbouring former Soviet republic Latvia joined the eurozone last year, while the other Baltic state, Estonia, joined four years ago.

About 60 per cent of Lithuania’s exports go to the European Union, with 20 per cent heading to Russia. However its transport and dairy sectors were hit this year when Russia imposed sanctions after Lithuania’s government criticised its actions in Ukraine.

The only Russian border with Lithuania is along its Kaliningrad exclave.