THE EMBASSY IN LONDON AND DOWNING STREET WELCOMED DISCUSSION ON THE SINGLE MARKET
On 19th November 2013, the Embassy of Lithuania in the UK, continuing its programme of the Lithuanian EU Presidency, hosted a round table discussion “The Regulatory Changes for the Financial Sector: A Prerequisite for the Stronger EU Single Market and Economic Growth” and a reception at 11 Downing Street. Rimantas Šadžius, the Minister of Finance of Lithuania and the Rt. Hon George Osborne MP, Chancellor of the Exchequer, welcomed the attendees.
The event was a result of ongoing cooperation between the Ministry of Finance of Lithuania, HM Treasury, theCityUK and the Lithuanian Embassy in London and was focused on one of the priorities of the Lithuanian EU Presidency - working towards achieving a credible and growing Europe which encompasses a deepening of the Single Market and ensuring the economic stability. “Recent months have brought hopeful signs that Europe may be turning the corner on the road to the economic recovery. The EU’s GDP grew by 0.4 % in the second quarter of 2013. A strong and properly functioning financial sector is crucial to ensure the economic stability and growth”, in his speech reiterated the Minister of Finance of Lithuania.
Earlier on, in his welcoming speech at the 3rd Banking and Financial Forum held in the city of London and attended by the representatives of the financial and business sector, the Minister put great emphasis on the importance of trust, especially trust in the financial sector. “We have to be prepared for possible setbacks in the very sensitive financial market and hence creation of the common system, common rules is of immense importance”, talking about the Banking Union, one of the Lithuanian EU Presidency priorities, said the Minister of Finance of Lithuania Rimantas Šadžius.
