Lithuanian Economy Essay -- Economy, Low Cost Transactions

Introduction In my research project I will be talking about the history of Lithuanian economy and how it had changed since the country became independent and took a place as a member of a European Union. In my work you will be able to see different points of view of being a citizen of the EU and the problems the countries are facing to get this membership. Lithuania’s membership in the European Union would be impossible without the public assent and support. This support was made most explicit during the referendum on the membership in the European Union on 10-11 May 2003, when 91.07% of those participating (the turnout was 63.37%) approved of Lithuania’s accession to the EU. (Euro 2007) The Lithuanian economy has reached high growth rates in the last decade as it entered the European Union together with other Baltic states. The government went in for a flat tax; the unemployment rates were fairly low until a recent recession began. Lithuania has been changing over from the communist planned economy in the Soviet Union since; it got independence that is 1990. Although Lithuania suffered a lot from U.S.S.R. it still kept a good relationship and nowadays Russia is one of the main traders with Lithuania. However, it faced its own economic and financial crisis in 1999, partly due to the 1998 Russian financial crisis. Since then Lithuania had changed its views towards the European Union; it became a member of EU on 1st May 2004. (Wikipedia, 2009) According to the survey of market participants in January and February 2004, the Lithuanian economy grew rapidly. The financial situation of Lithuanian companies improved and the costs of borrowing declined in 2003. At that time GDP in Lithuania reached over 10%. Economic growt... ...e accurate. As I was doing some research for this project I found that the government did this kind of survey in Lithuania, to find out what was general public opinion before Lithuania became EU member. In 2003 over 91% did the survey and almost 64% agreed with Lithuania going for EU membership. The same survey was repeated few years later. What did not surprise me was that people opinion changed after accession to EU. In the survey done in 2008 over 75% of the Lithuanians agreed that Lithuania has benefited from EU membership. In my research plan I would like to do this kind of questionnaire where I could see how the people agree and disagree with membership of EU. I would question them on their perceptions of how membership has affected their country. Also what changes they would like to see especially in areas, which they see as problematic.