Montenegro, which is one of the two countries that have unilaterally adopted the euro as the legal tender. Montenegro's limited … monetary policy options make the nature of business cycles important. The evidence presented here suggests that Montenegro has … for Montenegro and appears to be defensible only on grounds of policy credibility. …

monetary policy objective, whereas the Central Bank of Montenegro is the only one that has identified financial stability as …. The main objective of the paper is to analyse the framework for preserving financial stability in Montenegro and the … challenges that the Central Bank of Montenegro has been facing in accomplishing this objective. …