Montenegro will not abandon euro, says PM

Montenegro will not abandon euro as its official currency, despite concerns that the eurozone crisis could damage the small Balkan economy.

Izvor: AP

Tuesday, 29.11.2011.

11:51

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Montenegro will not abandon euro as its official currency, despite concerns that the eurozone crisis could damage the small Balkan economy. This was confirmed by Montenegrin Prime Minister Igor Luksic. Montenegro will not abandon euro, says PM Luksic said he does not believe the euro will collapse or that Montenegro, with a population of 650,000, will suffer an economic crisis like Greece's, even though both countries largely rely on tourism and foreigninvestments. "I think that the tying of the Montenegrin economy with the euro is a much better option than the adventure of printing your own currency," Luksic stated for the U.S. news agency Associated Press, the Montenegrin media report. Luksic projected a 2.5-percent GDP growth for 2012, but he left open the possibility that the eurozone turbulence could cause lower growth or even a recession in Montenegro.

Montenegro will not abandon euro, says PM

Lukšić said he does not believe the euro will collapse or that Montenegro, with a population of 650,000, will suffer an economic crisis like Greece's, even though both countries largely rely on tourism and foreigninvestments.

"I think that the tying of the Montenegrin economy with the euro is a much better option than the adventure of printing your own currency," Lukšić stated for the U.S. news agency Associated Press, the Montenegrin media report.

Lukšić projected a 2.5-percent GDP growth for 2012, but he left open the possibility that the eurozone turbulence could cause lower growth or even a recession in Montenegro.

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