Will the upcoming Montenegrin election impact currency exchange markets?
European elections can have major impacts on world currencies and exchange rates. A presidential election is due to take place in Montenegro on 15th April. The small Balkan state may only have 650,000 residents, but the political debate and on-going backdrop of potential Russian interference in the election process could have a wider impact. Montenegro is a recent entrant to NATO and aspires to become part of the EU.
Is Montenegro set to join the EU?
The European Union recently drafted a new expansion strategy that envisages Montenegro joining the bloc by 2025.
The importance of the election is that whoever wins the April vote is likely to be steering Montenegro through early negotiations on EU accession. Not all candidates support Montenegro’s entry into the EU, and the Kremlin is said to be against such a move which may be relevant if the Russian factor is at play. The outcome could curtail the EU’s plans for expansion or, if a pro-EU candidate wins, support those same plans.
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