LITHUANIA: Won't Follow "Painful" Euro Adoption Policy.

BLOOMBERG/
Lithuania won’t adhere to a “painful” euro adoption schedule that would kill demand and hurt the economy, said Prime Minister Andrius Kubilius.
It will probably fail to comply with the EU's excessive deficit procedure, which calls on the government to bring the gap within 3 percent of gross domestic product by 2011. Lithuania's economy contracted 14.3 percent last quarter even as it pushed budget cuts equivalent to 8 percent of GDP this year.