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The Process Of Euroisation And The Economic Development Of The Western Balkan Countries, Violeta Madzova, Nehat Ramadini

UBT International Conference

The trend of euroisation which started with the formal introduction of euro within Eurozone, was even extended over the countries from the Western Balkans, while two of them (Kosovo and Montenegro) have unilaterally introduced euro as the national currency without fulfilling Maastricht criteria. Other Balkans countries such as Serbia, Albania and Macedonia, were characterized with more or less extensive share of euro denominated deposits and loans in the banking sector balances. At the beginning, the euroisation, brought positive movements in these countries especially to those ones who have low development and growth rate. However , the sovereign debt crisis which …