Insights from the Lithuania City of London Club's 20th Anniversary second panel discussion on investment, resilience, innovation and the future European economy.
At the Lithuania City of London Club's 20th Anniversary celebrations at 22 Bishopsgate, investors, economists and business leaders gathered to address a defining question: who will run the future European economy?
Moderated by Edward Lucas, founder of the Baltic International Security Center, the panel brought together Auksė Jurkutė of Bank of America, Timothy Ash of Chatham House, Kasparas Jurgelionis of Iron Wolf Capital and William Wells of Rothschild & Co to explore how Lithuania, the Baltics and Central and Eastern Europe can shape Europe's next era of growth.
The strongest message was clear: Lithuania's greatest asset is not its size, but its ambition.
Edward Lucas opened by noting that the Baltic nations have often seen danger, opportunity and strategic change earlier than the rest of Europe. On security, resilience, energy independence and geopolitical risk, they have repeatedly recognised what others only later understood.
That instinct has helped drive one of Europe's most remarkable transformations. Lithuania is no longer simply catching up with Europe. It is increasingly helping define Europe's future.
William Wells challenged the audience to think strategically about Lithuania's long-term role. With its educated workforce, intellectual capital, renewable energy potential, knowledge economy and industrial capabilities, Lithuania should not see itself as peripheral.
The key question, he suggested, is how Lithuania plays to its strengths — and whether it has the confidence to position itself as a centre of innovation, investment and expertise in Northern Europe.
One of the strongest messages came from Auksė Jurkutė, Managing Director at Bank of America, who reflected on how far Lithuania and the wider Baltic region have come — and what must happen next.
"We need to think more globally."
The Baltic mentality of resilience, determination and hard work has served the region exceptionally well. But the next stage requires Lithuanian businesses to look beyond domestic and regional markets and build globally recognised brands.
Companies such as Vinted and Nord Security show that world-class businesses can emerge from Lithuania. The challenge now is to make those success stories the norm rather than the exception.
As more Lithuanian companies achieve international scale, the country's influence will grow with them.
The most memorable image of the discussion came from Kasparas Jurgelionis, Managing Partner at Iron Wolf Capital, who drew on Lithuania's founding legend of the Iron Wolf.
The Iron Wolf has long symbolised strength, ambition and resilience. Kasparas gave it a modern meaning: a symbol of autonomous power, innovation and determination.
At a time when artificial intelligence, defence technology and advanced manufacturing are reshaping economies, the lesson is powerful: nations need stories that give people confidence to think boldly.
The panel also agreed that stronger capital markets will be central to Lithuania's next chapter. The country has produced talented entrepreneurs, innovative technologies and globally competitive businesses. The question is how to ensure enough capital is available to help them scale.
Kasparas argued that ordinary citizens should have stronger ways to participate in this success. If value is created locally, more of the benefit should be shared locally.
This is not simply a financial issue. It is about linking innovation, investment and national confidence.
Ukraine's wartime innovation was another powerful lesson. Auksė highlighted how urgent need has accelerated development in defence technology, autonomous systems, security and advanced manufacturing.
Necessity drives innovation.
Just as Lithuania developed energy resilience before much of Europe recognised its strategic importance, Ukraine is showing how urgent challenges can accelerate industrial and technological progress at extraordinary speed.
Timothy Ash reminded the audience that Central and Eastern Europe's transformation has been extraordinary. What was once viewed as an emerging region has become an integral contributor to Europe's economy.
The next challenge is not catching up. It is defining the next growth model.
Countries that succeed will be those with a clear view of their strengths and the confidence to build on them.
The discussion returned again and again to one conclusion: Lithuania's success has exceeded expectations because its people have refused to be limited by geography, population size or past assumptions.
Its achievements have been driven by resilience, entrepreneurship, innovation and ambition. Lithuania has already shown what is possible. The challenge now is to think even bigger.
Like the Iron Wolf of legend, the future belongs to those prepared to be bold.
Guildhawk congratulates the Lithuanian City of London Club on its 20th Anniversary and thanks Edward Lucas, Auksė Jurkutė, Timothy Ash, Kasparas Jurgelionis and William Wells for an engaging and thought-provoking discussion about Europe's future and Lithuania's growing role within it.
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