At a meeting in Luxembourg, today, EU economics and finance ministers agreed the Baltic states met the necessary conditions to start using the single currency on January the first. Lithuanians’ hopes of becoming the 19th member of the Eurozone could be realized if the endorsements is also given by EU leaders at this summit, on June 27. The ministers also approved an amendment to stop cross-border companies from exploiting a tax loophole. The amendment will counter so-called doubled non taxation of corporate groups involving hybrid loan arrangements. The loophole could enable them to exploit mismatches between national tax rules and avoid paying taxes on certain kinds of profits. In other items of the agenda, the ministers approved the recommendations to help bolster the national reform programs of 26 EU countries and on the economic policies of the euro area. The move is part of the European semester process, a cycle that helps EU member states balance their budgets and improve their fiscal and economic policies.