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Diplomats have suggested that it is unlikely Montenegro will be forced to withdraw the euro from circulation in their country. [67] [70] Radoje Žugić, Montenegro's Minister of Finance, has stated that "it would be extremely economically irrational to return to our currency and then later to again go back to the euro."
The use was eventually acknowledged by the European Commission through a specific approach, which took into consideration that euroisation happened due to “extraordinary circumstances” present in the country when the euro was introduced. [22] As a result of that, Montenegro still continues to use the euro currency as its legal tender.
If the state has been using the euro as its currency then, rather than form a new domestic currency, it might continue to use the euro unilaterally – as Montenegro does – or by way of a monetary agreement with the EU – as Andorra does – without being a member of the EU. [citation needed]
Several European microstates outside the EU have adopted the euro as their currency. For EU sanctioning of this adoption, a monetary agreement must be concluded. Prior to the launch of the euro, agreements were reached with Monaco, San Marino, and Vatican City by EU member states (Italy in the case of San Marino and Vatican City, and France in the case of Monaco) allowing them to use the euro ...
While the remaining states are all obliged to adopt the euro eventually by the terms of their accession treaties, since membership in the Exchange Rate Mechanism is a prerequisite for euro adoption, and joining ERM is voluntary, these states can ultimately control the timing of their adoption of the euro by deliberately not satisfying the ERM ...
The territories of the member states of the European Union (European Communities pre-1993), animated in order of accession. Territories outside Europe and its immediate surroundings are not shown. The European Union (EU) has expanded a number of times throughout its history by way of the accession of new member states to the Union.
Young Reno adults paying more in mortgage than rest of U.S. on average. The median mortgage loan for Reno's under-25 homebuyers was $330,000, according to the study.
The European Parliament resolution of 5 April 2017 (on negotiations with the United Kingdom following its notification that it intends to withdraw from the European Union) states, "a revocation of notification needs to be subject to conditions set by all EU-27, [a] so that it cannot be used as a procedural device or abused in an attempt to ...