In Luxembourg - discussions on reinforcing EU competitiveness and security
Today, Minister of Finance Kristupas Vaitiekūnas during the meeting with Minister of Finance of Luxembourg Gilles Roth discussed the economic situation of the countries and their efforts to increase defence funding, talked about further support to Ukraine and discussed the importance of the Savings and Investments Union (SIU) initiative in reinforcing EU competitiveness.
“The measures under the SIU initiative will help ensure that capital is effectively channelled towards strategically important, innovative and productive investments. This is eminently in line with Lithuania's long-term strategy and is particularly relevant in these turbulent times in fostering the resilience of the European Union as a whole”, K. Vaitiekūnas said.
The Minister agreed to the proposal that in pursuing the main goal of this initiative – to create more efficient EU capital markets to finance the real economy – it is necessary to remove cross-border barriers to capital flows, to increase the efficiency of supervision, to reduce unnecessary administrative burden and to simplify regulation, however stressed that in the transition to a more centralised supervisory model at EU level, it was important to ensure a clear added value that outweighs costs.
At the meeting, the ministers discussed the agreement reached by the European Council in mid-December to provide a loan to Ukraine of EUR 90 billion loan backed by the EU budget and the need to implement it as soon as possible.
At the meeting, K. Vaitiekūnas also asked for G. Roth's support for Lithuania's nomination of Rimantas Šadžius for the position of Vice-President and Member of the Executive Board of the European Central Bank (ECB).
Last updated: 13-01-2026
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