Podgorica, (MINA-BUSINESS) – Outgoing German Ambassador to Podgorica Peter Felten said that Montenegro’s European future is certain, adding that the Central Bank of Montenegro (CBCG) is a model institution that is clearly, consistently and operationally committed to the country’s European path.

Felten paid a farewell visit to CBCG Governor Irena Radovic, with whom he discussed the results of their cooperation to date, Montenegro’s European path and opportunities for further strengthening relations between the CBCG and German institutions.

“Over the past three years, under Radovic’s leadership, the CBCG has achieved excellent results, such as full alignment with the EU acquis, joining the SEPA area and introducing the TIPS Clone system, which bring concrete benefits to citizens and businesses,” Felten said.

He noted that the recognised progress Montenegro has made in the area of preventing money laundering and terrorist financing demonstrates the quality and credibility of the Central Bank’s supervisory work.

“A strong and independent central bank is a prerequisite for a stable financial system, and such institutions are precisely what the European Union expects from future member states,” Felten said.

Radovic thanked Felten for his outstanding cooperation and the continuous support that Germany provided to Montenegro during his term.

She said that Germany is one of Montenegro’s most important partners on its European path, particularly in strengthening institutional capacities and implementing reforms in the financial sector.

Radovic also expressed particular appreciation for the contribution of Germany’s central bank, Deutsche Bundesbank, to the implementation of the Needs Assessment project, which assessed the CBCG’s requirements for future full integration into the European System of Central Banks and the Eurosystem.