Podgorica, (MINA-BUSINESS) – Economic analyst Ana Nives Radovic believes that the protection of the financial system will be the greatest challenge for Montenegro’s institutions in the EU negotiation process under Chapter 17.
Radovic told Mina-business agency that the citizens of Montenegro and the European Union were still not aware what is the final position of the European Commission and the European Central Bank (ECB) on the conditions for closing Chapter 17 – Economic and monetary union, despite the fact that this issue dad been raised on several occasions.
“This is because no candidate country has entered the EU accession process before while using the euro,” said Radovic.
She said that she had been following that process for more than ten years and she had heard many different answers to these questions in communication with European colleagues, which often reflected the ongoing crises.
“These answers varied from the manifest claims that monetary integration is not possible without an adjustment of the exchange rate for the national currency to the opinions that a different approach could be taken in this case,” said Radovic.
She believes that the only thing these different positions have in common is that an epilogue of neither of these approaches to the formal monetary integration of Montenegro would interfere with any segment of the European Union’s public finance, because of the fact that Montenegro’s GDP is hundreds of times smaller than the ones of a majority of current EU member states.
This article was published with the financial support of the European Union available within the framework of the project “Dealing with Ethics and Fake News” IPA2018/397-252. The Mina agency assumes full responsibility for its contents, which do not necessarily reflect the position of the EU.
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