Discussing euro after opening Chapter 17

PODGORICA – The use of the euro in Montenegro will be discussed with the European Commission (EC) after the opening of Chapter 17 (Economic and Monetary Union).

EC is in charge of this issue during the EU accession negotiation process. The Central Bank of Montenegro (CBCG) told this to Pobjeda in response to the question of whether this issue was discussed at the meeting of the CBCG delegation with the European Central Bank representatives, held recently in Frankfurt.

The meeting in Frankfurt was attended by the CBCG governor Radoje Zugić, as well as the vice-governors Irena Radovic and Nikola Fabris.

Euro has been used in Montenegro since 2002 when it was introduced in 12 eurozone countries. Before that, in 1999 Deutsche Mark was introduced.

The European Central Bank will be responsible for the issue of using the euro after Montenegro joins the EU, and during the process of accession to the European Monetary Union, CBCG says.

CBCG has no obligation to prepare for future membership in the European system of central banks.