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Montenegro says giving up the euro is "absolutely impossible"

11/10/2007

PODGORICA, Montenegro -- It is "absolutely impossible" for Montenegro to give up the euro as its official currency, Central Bank Governor Ljubisa Krgovic said late on Tuesday (October 9th). In response to EU warnings that a unilateral introduction of the euro represents a violation of the Monetary Union Agreement, Krgovic said EU representatives are well aware that abandoning the euro poses an enormous economic risk. He also noted that in 2002, when Montenegro unilaterally introduced the euro, international institutions reacted positively. (Republika, Focus, Antena M - 10/10/07)

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