Keynote speech by Mario Draghi, President of the ECB,
Euro Conference – Lithuania,
Vilnius, 25 September 2014
The euro area benefits from Lithuania’s accession in at least two ways: first, Lithuania has shown that adjustment is not only necessary, but also possible – even without currency devaluation; second, Lithuania’s decision to join the euro area demonstrates that our common currency is attractive.
Lithuania itself will – amongst others – benefit from having a say in the monetary policy-making of the world’s second largest economy. Initial scepticism among some Lithuanians regarding the introduction of the euro is already transforming into increasing support now that people become more informed about their new currency and the changeover modalities. Joining the euro area does not only follow from economic considerations: it is a binding commitment to European values.
Source : ECB
The Euro hits 22 months low currently facing 1.2659 of 11/11/2012’s low. The weekly chart S3 is 1.2712, so I focus downward to 1.25xx level as weekly price&timing method.