Euro unilateral adoption in Albania?

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Euro unilateral adoption in Albania?

Post by ART » Fri Sep 14, 2018 12:16 am

Since 2014, Albania is one of the official candidates to join in EU. Although the accession process is still long, has been discussed for a long time of Euro unilateral adoption, like Montenegro and Kosovo (except in the northern Serb-majority areas), where the Euro is used as their national currency.

Main proponent of this idea is the economist Zef Preçi, director of the Albanian Center for Economic Research, according to which in all the western Balkans it would be better to replace the local currencies with the Euro, both to promote economic growth and to spur the process of EU enlargement in this area. It should also be noted that, as in other countries, most of the savings and loans are already denominated in Euro, whose exchange rate also influences price formation.
Some other experts are against it and affirm that the step would be premature, because Albania still has much to do in the proper functioning of the rule of law and in financial stability. From this point of view, the cases of Montenegro and Kosovo are particular, because as for them the adoption of the Euro was above all a way to obtain effective independence from Serbia.
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