Republic Of Montenegro

In May 2006, following a closely and bitterly fought referendum, Montenegro finally regained the status of an independent nation that it had lost in 1918 - the most recent chapter in a highly turbulent history. The tiny Balkan republica??s declaration of independence from Serbia represented - barring the final resolution of Kosovoa??s status - the final stage in the disintegration of what was once Yugoslavia. But how did the Balkans forge this tiny republic? What sets it apart from the other dominant powers in the region? And what will be its future role on the worlda??s stage? 'Montenegro: A Modern History' charts the countrya??s contemporary history in accessible and comprehensive form. Kenneth Morrison explores the forces that have shaped the republic of Montenegro and questions where this will lead in the future, examining the fundamental issues of Montenegrin identity and statehood in a wider European as well as a Balkan context. This full and authoritative modern history is essential reading for everyone interested in the political and social dynamics of one of Europea??s youngest states.

Before the independence of the four other constituent Republics (Slovenia, Croatia, Bosnia and Herzegovina, and Macedonia), Montenegro was a constituent Republic of the Socialist Federal Republic of Yugoslavia. The first multiparty elections in Montenegro took place in 1990 following the period of the one-party system, which had been in force after the Second World War. There were three main principles in the legal system, in relation to the Federal State of Yugoslavia and constituent Republics, as well as in relation to Serbia and Montenegro within the new State. The first was a principle of "double track" in the implementation of laws: (federal authorities execute federal law, and Republican authorities execute the laws of the Republic). The second principle was a presumption of power in favour of the Republics (Serbia and Montenegro). The third principle was the possibility of delegating the power from constituent Republics to the Federal State. These were the main features of the period after dissolution of the former Yugoslavia, and means that the competence of the Federal Administration was limited only to the fields that were explicitly envisaged by the Federal Constitution.

In 2003, the Federal Republic of Yugoslavia, comprised of the two republics that had chosen to remain within the Yugoslav Federation, was renamed Serbia and Montenegro.Since the nation's founding, the country has frequently be.

The economic expansion in Montenegro is proceeding at full strength. The economy is overheating. Rapid credit growth is overstretching banks, and has contributed to ballooning asset prices. Eroding competitiveness is a concern. Management of the boom falls on fiscal policy. Tax cuts have been procyclical and potentially destabilizing. Fiscal risks need to be contained. The main focus of credit policy should be to strengthen banking sector supervision. Completing the transition to a market economy should be kept at the top of the policy agenda.