Montenegro faces rebuke for euro-use

EU foreign ministers will next week (Monday 15 October) warn Montenegro over its use of the euro but will stop short of ordering it to give up the European single currency.

A statement prepared for the meeting on Monday says that use of the euro "is fully distinct from EU membership". Montenegro, which has been using the euro for the past five years, takes its first steps towards EU accession on Monday, with the official signing of a Stabilisation and Association Agreement with the EU.

Ministers will warn that the issue will not be disregarded during the accession negotiations.

Montenegro used the German mark for two years prior to adopting the euro in 2002. The euro is also used in the south-Serbian province of Kosovo, which is currently governed by the United Nations. Signing of the agreement with Montenegro might be delayed by Latvia and Lithuania’s disputes over the spelling of ‘euro’, which Bulgaria says should be settled first.

EU foreign ministers will next week (Monday 15 October) warn Montenegro over its use of the euro but will stop short of ordering it to give up the European single currency.

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