The Elektron SidStation is a musical synthesizer sound module , built around the MOS Technology SID mixed-mode synthesizer chip originally used in the Commodore 64 home computer. It was produced by the Swedish synthesizer company Elektron , and was introduced in 1999. As the SID chip had not been manufactured for years, Elektron allegedly bought up nearly all the remaining stock.
100-610: The company built the SidStation until 2003, when their initial supply of SID chips ran out. The last 100 units sold, the Final 100 Edition, were laser etched with a number on the front panel's bottom-left corner and sold in descending order from 100 to 1. In March 2005, Elektron claimed to have encountered an additional supply of 100 SID chips and produced 100 SidStation units, selling them for € 920, USD $ 950, or SEK 8200 each. In late 2006, Elektron claimed that "100 became 200", and
200-634: A Venetian calque of the Montenegrin phrase " Crna Gora ", meaning literally "Black Mountain", deriving from the appearance of Mount Lovćen which was covered in dense evergreen forests. Crna Gora was mentioned for the first time in edicts issued by Stefan Uroš I to the Serbian Orthodox Zeta Episcopate seat at Vranjina island in Lake Skadar . It came to denote the majority of contemporary Montenegro in
300-535: A common side showing the denomination or value, and a map in the background. Due to the linguistic plurality in the European Union , the Latin alphabet version of euro is used (as opposed to the less common Greek or Cyrillic) and Arabic numerals (other text is used on national sides in national languages, but other text on the common side is avoided). For the denominations except the 1-, 2- and 5-cent coins,
400-610: A national side showing an image specifically chosen by the country that issued the coin. Euro coins from any member state may be freely used in any nation that has adopted the euro. The coins are issued in denominations of €2 , €1 , 50c , 20c , 10c , 5c , 2c , and 1c . To avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands and Ireland (by voluntary agreement) and in Finland and Italy (by law). This practice
500-462: A Notchfilter). All of these are controllable by the four knobs on top of the SidStation. Euro The euro ( symbol : € ; currency code : EUR ) is the official currency of 20 of the 27 member states of the European Union . This group of states is officially known as the euro area or, more commonly, the eurozone . The euro is divided into 100 euro cents . The currency
600-612: A budget deficit of less than 3% of their GDP, a debt ratio of less than 60% of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average. In the Maastricht Treaty, the United Kingdom and Denmark were granted exemptions per their request from moving to the stage of monetary union which resulted in the introduction of the euro (see also United Kingdom and
700-558: A foreign trading currency in Cuba since 1998, Syria since 2006, and Venezuela since 2018. In 2009, Zimbabwe abandoned its local currency and introduced major global convertible currencies instead, including the euro and the United States dollar. The direct usage of the euro outside of the official framework of the EU affects nearly 3 million people. Outside the eurozone, two EU member states have currencies that are pegged to
800-478: A member of NATO in June 2017, despite attempts by Russia to sabotage it, an event that triggered a promise of retaliatory actions from Russia's government . Montenegro has been in negotiations with the EU since 2012. In 2018, the earlier goal of acceding by 2022 was revised to 2025. Legislation is being passed bringing Montenegro law in line with EU membership requirements. In April 2018, Milo Djukanovic ,
900-504: A monetary agreement: British Overseas Territory : Unilateral adopters: The following EU member states committed themselves in their respective Treaty of Accession to adopt the euro. However they do not have a deadline to do so and can delay the process by deliberately not complying with the convergence criteria (such as by not meeting the convergence criteria to join ERM II). Bulgaria and Romania are actively working to adopt
1000-590: A new agreement for continued cooperation and entered into negotiations regarding the future status of the Federal Republic of Yugoslavia . This resulted in the Belgrade Agreement, which saw the country's transformation into a more decentralised state union named Serbia and Montenegro in 2003. The Belgrade Agreement also contained a provision delaying any future referendum on the independence of Montenegro for at least three years. The status of
1100-657: A puppet Kingdom of Montenegro . In May, the Montenegrin branch of the Communist Party of Yugoslavia started preparations for an uprising planned for mid-July. The Communist Party and its Youth League organised 6,000 of its members into detachments prepared for guerrilla warfare . According to some historians, the first armed uprising in Nazi -occupied Europe happened on 13 July 1941 in Montenegro. Unexpectedly,
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#17327731939561200-451: A shining red color. Around twelve red units were made and approximately half of them were sold to early customers and beta-test partners. Some of these partners sold their units at a later time giving a handful of metallic red SidStations being owned by private people. Besides the color, these beta machines had a slightly more aggressive character due to some voltages running higher in the filter section, as well as certain beta-testing modes and
1300-598: Is a major donor to the EFSF. To be included in the eurozone, countries had to fulfil certain convergence criteria , but the meaningfulness of such criteria was diminished by the fact it was not enforced with the same level of strictness among countries. According to the Economist Intelligence Unit in 2011, "[I]f the [euro area] is treated as a single entity, its [economic and fiscal] position looks no worse and in some respects, rather better than that of
1400-524: Is also a founding member of the Union for the Mediterranean , and has been in the process of joining the European Union since 2012. Montenegro's ( / ˌ m ɒ n t ɪ ˈ n iː ɡ r oʊ , - ˈ n eɪ ɡ r oʊ , - ˈ n ɛ ɡ r oʊ / MON -tin- E(E)G -roh, - AY -groh ; Montenegrin : Crna Gora / Црна Гора ; Albanian : Mali i Zi ) English name derives from
1500-542: Is also the sole currency in three overseas territories of France that are not themselves part of the EU, namely Saint Barthélemy , Saint Pierre and Miquelon , and the French Southern and Antarctic Lands , as well as in the British Overseas Territory of Akrotiri and Dhekelia . The euro has been adopted unilaterally as the sole currency of Montenegro and Kosovo. It has also been used as
1600-420: Is also used officially by the institutions of the European Union , by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia , as well as unilaterally by Montenegro and Kosovo . Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to
1700-652: Is bordered by Bosnia and Herzegovina to the northwest, Serbia to the northeast, Kosovo to the east, Albania to the southeast, Croatia to the west, and has a coastline along the Adriatic Sea to the southwest. The capital and largest city is Podgorica , while Cetinje is the Old Royal Capital and cultural centre. Before the arrival of the Slav peoples in the Balkans in the 6th and 7th centuries CE,
1800-469: Is discouraged by the commission, as is the practice of certain shops of refusing to accept high-value euro notes. Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin. These include both commonly issued coins, such as the €2 commemorative coin for the fiftieth anniversary of the signing of the Treaty of Rome, and nationally issued coins, such as
1900-835: Is therefore one of the newest internationally recognised countries in the world. Montenegro has an upper-middle-income economy , mostly service-based , and is in late transition to a market economy . It is a member of the United Nations , NATO , the World Trade Organization , the Organization for Security and Co-operation in Europe , the Council of Europe , and the Central European Free Trade Agreement . Montenegro
2000-940: The Bay of Kotor . After the second session of the AVNOJ during World War II in Yugoslavia , the contemporary modern state of Montenegro was founded as the Federal State of Montenegro ( Montenegrin : Савезна држава Црне Горе / Savezna država Crne Gore ) on 15 November 1943 within the Yugoslav Federation by the ZAVNOCGB . After the war, Montenegro became a republic under its name, the People's Republic of Montenegro ( Montenegrin : Народна Република Црна Гора / Narodna Republika Crna Gora ) on 29 November 1945. In 1963, it
2100-772: The Great Powers to officially demarcate the borders between Montenegro and Ottoman Empire, de facto recognizing Montenegro's independence. In the Battle of Vučji Do Montenegrins inflicted a major defeat on the Ottoman Army under Grand Vizier Ahmed Muhtar Pasha . In the aftermath of the Russian victory against the Ottoman Empire in the Russo-Turkish War of 1877–1878 , the major powers restructured
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#17327731939562200-613: The Karađorđević dynasty and opposing communism went on to become Chetniks , and turned to collaboration with Italians against the Partisans. War broke out between Partisans and Chetniks during the first half of 1942. Pressured by Italians and Chetniks, the core of the Montenegrin Partisans went to Serbia and Bosnia, where they joined with other Yugoslav Partisans. Fighting between Partisans and Chetniks continued through
2300-873: The Liberal Alliance of Montenegro , the Social Democratic and Socialist Parties, as well as minority parties such as the Democratic League in Montenegro , leading to a relatively low turnout of 66%. During the 1991–1995 Bosnian War and Croatian War , Montenegrin police and military forces, under orders of president Momir Bulatovic and Interior Minister Pavle Bulatovic joined Serbian troops in attacks on Dubrovnik , Croatia. These operations, aimed at acquiring more territory, were characterised by large-scale violations of human rights. Montenegrin General Pavle Strugar
2400-738: The Neretva River. Nicholas's grandson, the Serb King Alexander I , dominated the Yugoslav government. Zeta Banovina was one of nine banovinas that formed the kingdom; it consisted of the present-day Montenegro and parts of Serbia, Croatia, and Bosnia. In April 1941, Nazi Germany , the Kingdom of Italy , and other Axis allies attacked and occupied the Kingdom of Yugoslavia. Italian forces occupied Montenegro and established
2500-603: The dobra of São Tomé and Príncipe was officially linked with the euro. Additionally, the Moroccan dirham is tied to a basket of currencies, including the euro and the US dollar, with the euro given the highest weighting. These countries generally had previously implemented a currency peg to one of the major European currencies (e.g. the French franc , Deutsche Mark or Portuguese escudo ), and when these currencies were replaced by
2600-507: The " eurozone ", some 347 million people in total as of 2023 . According to bilateral agreements with the EU , the euro has also been designated as the sole and official currency in a further four European microstates awarded minting rights (Andorra, Monaco, San Marino and the Vatican City). All but one (Denmark) current, and any potential future EU members, are obliged to adopt the euro when economic conditions permit. The euro
2700-659: The 13th century, Zeta had replaced Duklja when referring to the realm. In the late 14th century, southern Montenegro ( Zeta ) came under the rule of the Balšić noble family , then the Crnojević noble family , and by the 15th century, Zeta was more often referred to as Crna Gora . In 1421, Zeta was annexed to the Serbian Despotate , but after 1455, another noble family from Zeta, the Crnojevićs , became sovereign rulers of
2800-589: The 15th century. Modern-day Montenegro was more and more known by that name in the historical period following the fall of the Serbian Despotate in 1459. Originally, it had referred to only a small strip of land under the rule of the Paštrovići tribe, but the name eventually came to be used for the wider mountainous region after the Crnojević noble family took power in Upper Zeta . The aforementioned region became known as Stara Crna Gora ' Old Montenegro ' by
2900-498: The 19th century to distinguish the independent region from the neighbouring Ottoman-occupied Montenegrin territory of Brda (the "Highlands"). Montenegro further increased its size several times by the 20th century, as the result of wars against the Ottoman Empire , which saw the annexation of Old Herzegovina and parts of Metohija and southern Raška . Its borders have changed little since then, losing Metohija and gaining
3000-634: The ECB's banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB. These liabilities carry interest at the main refinancing rate of the ECB. The other 92% of euro banknotes are issued by the NCBs in proportion to their respective shares of the ECB capital key, calculated using national share of European Union (EU) population and national share of EU GDP, equally weighted. Member states are authorised to print or to commission bank note printing. As of November 2022 , these are
3100-618: The Euro, at around US dollar 0.95 per euro. The euro is managed and administered by the European Central Bank (ECB, Frankfurt am Main ) and the Eurosystem , composed of the central banks of the eurozone countries. As an independent central bank, the ECB has sole authority to set monetary policy . The Eurosystem participates in the printing, minting and distribution of euro banknotes and coins in all member states, and
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3200-656: The German Deutsche Mark as its currency and subsequently adopted the euro , although not part of the Eurozone . Subsequent governments pursued pro-independence policies, and political tensions with Serbia simmered despite political changes in Belgrade . Targets in Montenegro were bombed by NATO forces during Operation Allied Force in 1999, although the extent of these attacks was limited in both time and area affected. In 2002, Serbia and Montenegro came to
3300-458: The Montenegrin opposition, Serbian nationals and Russian agents; the coup was prevented. In 2017, fourteen people, including two Russian nationals and two Montenegrin opposition leaders, Andrija Mandić and Milan Knežević , were indicted for their alleged roles in the coup attempt on charges such as "preparing a conspiracy against the constitutional order and the security of Montenegro" and an "attempted terrorist act." Montenegro formally became
3400-587: The Ottoman Empire that permitted Montenegrin clans freedom from certain restrictions. Nevertheless, the Montenegrins were disgruntled with Ottoman rule, and in the 17th century, repeatedly rebelled, which culminated in the defeat of the Ottomans in the Great Turkish War at the end of that century. Montenegrin territories were controlled by warlike clans. Most clans had a chieftain ( knez ), who
3500-418: The Ottoman Empire. Minor border skirmishes excepted, diplomacy ushered in about 30 years of peace between the two states until the deposition of Abdul Hamid II in 1909. The political skills of Abdul Hamid II and Nicholas I played a major role in the mutually amicable relations. Modernization of the state followed, culminating with the draft of a Constitution in 1905. However, political rifts emerged between
3600-736: The Parliamentary Assembly of the Council of Europe (PACE), the Congress of Local and Regional Authorities of the Council of Europe (CLRAE), and the European Parliament (EP) to form an International Referendum Observation Mission (IROM). The IROM—in its preliminary report—"assessed compliance of the referendum process with OSCE commitments, Council of Europe commitments, other international standards for democratic electoral processes, and domestic legislation." Furthermore,
3700-523: The Partisans in May and June 1943, Germans disarmed many Chetniks without fighting, as they feared they would turn against them in case of an Allied invasion of the Balkans. After the capitulation of Italy in September 1943, Partisans managed to take hold of most of Montenegro for a brief time, but Montenegro was soon occupied by German forces , and fierce fighting continued during late 1943 and 1944. Montenegro
3800-603: The Portuguese escudos , which ceased to have monetary value after 31 December 2002, although banknotes remained exchangeable until 2022. A special euro currency sign (€) was designed after a public survey had narrowed ten of the original thirty proposals down to two. The President of the European Commission at the time ( Jacques Santer ) and the European Commissioner with responsibility for
3900-630: The SID chip. This version is considered the best trade-off between sound, stability and conformity (which is a big deal concerning the SID chip, since they tend to sound different from unit to unit). The SidStation is capable of producing all the waveforms of the C64, Triangle , Saw , Pulse , Mix (which is a mix between Saw and Pulse) and variable Noise. Besides this is the synth, a 4-part LFO -modulation system which can be used with Lowpass , Highpass , Bandpass and various combinations of these filters (including
4000-481: The US or the UK" and the budget deficit for the euro area as a whole is much lower and the euro area's government debt/GDP ratio of 86% in 2010 was about the same level as that of the United States. "Moreover", they write, "private-sector indebtedness across the euro area as a whole is markedly lower than in the highly leveraged Anglo-Saxon economies". The authors conclude that the crisis "is as much political as economic" and
4100-430: The United States were relatively strong creditors – gained attention in summer 2012 even as Germany received a debt-rating warning of its own. The euro is the sole currency of 20 EU member states : Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries constitute
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4200-468: The ability to upgrade the firmware to a greater extent. Elektron also sold fifty black SidStation units, which had black aluminum casing and blue LEDs , contrary to the original green ones, called the Ninja Edition . This model also came with a different set of sound patches. There is also a blue SidStation that was made as a one off, by Elektron, for a walk in customer that just happened to see
4300-411: The area now known as Montenegro was inhabited principally by people known as Illyrians . During the Early Medieval period, three principalities were located on the territory of modern-day Montenegro: Duklja , roughly corresponding to the southern half; Travunia , the west; and Rascia proper, the north. The Principality of Zeta emerged in the 14th and 15th centuries. From the late 14th century to
4400-404: The blue shell sitting unused on the shelf [1] . The sound of SidStation is, of course, very similar to that of the original Commodore 64 . The SID chip is well known for being noisy. By design, the oscillators never stop outputting signal—even while not in use. It's this flaw, however, that is part of the character and sound of the SID chip. Most SidStations contain the 6581 R4AR incarnation of
4500-415: The breakup of Yugoslavia by Milo Đukanović (four-time prime minister and also twice president), accused of having established an authoritarianism and clientelist regime, while maintaining close relations with organized crime . The massive privatizations of the Đukanović era lead to the enrichment of him and oligarchs close to him. His brother Aleksandar, owner of Montenegro's first private bank, oversaw
4600-426: The city of Budva , in that time known as "Budua". The Venetian territory was centred on the Bay of Kotor , and the Republic introduced governors who meddled in Montenegrin politics. Venice controlled territories in present-day Montenegro until its fall in 1797. Large portions fell under the control of the Ottoman Empire from 1496 to 1878. In the 16th century, Montenegro developed a unique form of autonomy within
4700-464: The coin to commemorate the 2004 Summer Olympics issued by Greece. These coins are legal tender throughout the eurozone. Collector coins with various other denominations have been issued as well, but these are not intended for general circulation, and they are legal tender only in the member state that issued them. A number of institutions are authorised to mint euro coins: The design for the euro banknotes has common designs on both sides. The design
4800-498: The company kept the price in relation to the demand, meaning that the initial SidStations were fairly cheap and later on, when the device was more sought-after, the price increased. The appearance of the SidStation is retro and features a small LCD -display where the sound editing is done, four assignable knobs, a keypad and a controller wheel. Besides the standard grey model of SidStation, two other models exist. The beta models of SidStations used by Elektron and their beta testers had
4900-425: The country, making it the last free monarchy of the Balkans before it fell to the Ottomans in 1496, and got annexed to the sanjak of Shkodër . For a short time, Montenegro existed as a separate autonomous sanjak in 1514–1528 ( Sanjak of Montenegro ). Also, Old Herzegovina region was part of Sanjak of Herzegovina . From 1392, numerous parts of the territory were controlled by Republic of Venice , including
5000-434: The electoral commission, the 55% threshold was passed by only 2,300 votes. Serbia, the member-states of the European Union, and the permanent members of the United Nations Security Council all recognised Montenegro's independence. The 2006 referendum was monitored by five international observer missions, headed by an OSCE / ODIHR team, and around 3,000 observers in total (including domestic observers from CDT (OSCE PA),
5100-428: The euro ( Yves-Thibault de Silguy ) then chose the winning design. Regarding the symbol, the European Commission stated on behalf of the European Union : The symbol € is based on the Greek letter epsilon (Є), with the first letter in the word "Europe" and with 2 parallel lines signifying stability. The European Commission also specified a euro logo with exact proportions. Placement of the currency sign relative to
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#17327731939565200-446: The euro ). The name "euro" was officially adopted in Madrid on 16 December 1995. Belgian Esperantist Germain Pirlot , a former teacher of French and history, is credited with naming the new currency by sending a letter to then President of the European Commission , Jacques Santer , suggesting the name "euro" on 4 August 1995. Due to differences in national conventions for rounding and significant digits, all conversion between
5300-632: The euro , which is a precondition to joining the eurozone. The Danish krone and Bulgarian lev are pegged due to their participation in the ERM II . Additionally, a total of 21 countries and territories that do not belong to the EU have currencies that are directly pegged to the euro including 14 countries in mainland Africa ( CFA franc ), two African island countries ( Comorian franc and Cape Verdean escudo ), three French Pacific territories ( CFP franc ) and two Balkan countries, Bosnia and Herzegovina ( Bosnia and Herzegovina convertible mark ) and North Macedonia ( Macedonian denar ). On 1 January 2010,
5400-420: The euro . The euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar . As of December 2019, with more than €1.3 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in circulation in the world. The name euro was officially adopted on 16 December 1995 in Madrid . The euro
5500-400: The euro their currencies became pegged to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation, and encourages foreign investment due to its stability. In total, as of 2013 , 182 million people in Africa use a currency pegged to
5600-409: The euro traded below the US dollar, but has since traded near parity with or above the US dollar, peaking at US$ 1.60 on 18 July 2008 and since then returning near to its original issue rate. On 13 July 2022, the two currencies hit parity for the first time in nearly two decades due in part to the 2022 Russian invasion of Ukraine . Then, in September 2022, the US dollar again had a face value higher than
5700-400: The euro, 27 million people outside the eurozone in Europe, and another 545,000 people on Pacific islands. Montenegro in Europe (dark grey) – [ Legend ] Montenegro is a country in Southeastern Europe , on the Balkan Peninsula . Its 25 municipalities have a total population of 633,158 people in an area of 13,812 km (5,333 sq mi). It
5800-543: The euro, while the remaining states do not have a migration plan in progress. The euro is divided into 100 cents (also referred to as euro cents , especially when distinguishing them from other currencies, and referred to as such on the common side of all cent coins). In Community legislative acts the plural forms of euro and cent are spelled without the s , notwithstanding normal English usage. Otherwise, normal English plurals are used, with many local variations such as centime in France. All circulating coins have
5900-421: The eurozone are also treated as domestic transactions; however paper-based payment orders, like cheques, have not been standardised so these are still domestic-based. The ECB has also set up a clearing system , TARGET , for large euro transactions. The euro was established by the provisions in the 1992 Maastricht Treaty . To participate in the currency, member states are meant to meet strict criteria , such as
6000-491: The fighters laid down their arms and returned home. Nevertheless, intense guerrilla fighting lasted until December. Fighters who remained under arms fractured into two groups. Most of them went on to join the Yugoslav Partisans, consisting of communists and those inclined towards active resistance; these included Arso Jovanović , Sava Kovačević , Svetozar Vukmanović-Tempo , Milovan Đilas , Peko Dapčević , Vlado Dapčević , Veljko Vlahović , and Blažo Jovanović . Those loyal to
6100-454: The initial designs by Robert Kalina were of specific bridges, including the Rialto and the Pont de Neuilly , and were subsequently rendered more generic; the final designs still bear very close similarities to their specific prototypes; thus they are not truly generic. The monuments looked similar enough to different national monuments to please everyone. The Europa series, or second series, consists of six denominations and no longer includes
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#17327731939566200-446: The late 18th century, large parts of southern Montenegro were ruled by the Venetian Republic and incorporated into Venetian Albania . The name Montenegro was first used to refer to the country in the late 15th century. After falling under Ottoman Empire rule, Montenegro gained semi-autonomy in 1696 under the rule of the House of Petrović-Njegoš , first as a theocracy and later as a secular principality . Montenegro's independence
6300-426: The map of the Balkan region. The Ottoman Empire recognised the independence of Montenegro in the Treaty of Berlin in 1878. The first Montenegrin constitution (also known as the Danilo Code) was proclaimed in 1855. Under Nicholas I (ruled 1860–1918), the principality was enlarged several times in the Montenegro-Turkish Wars and was recognised as independent in 1878. Nicholas I established diplomatic relations with
6400-453: The map only showed the 15 member states of the union as of 2002. Beginning in 2007 or 2008 (depending on the country), the old map was replaced by a map of Europe also showing countries outside the EU . The 1-, 2- and 5-cent coins, however, keep their old design, showing a geographical map of Europe with the EU member states as of 2002, raised somewhat above the rest of the map. All common sides were designed by Luc Luycx . The coins also have
6500-630: The national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from several years to indefinitely (the latter for Austria, Germany, Ireland, Estonia and Latvia in banknotes and coins, and for Belgium, Luxembourg, Slovenia and Slovakia in banknotes only). The earliest coins to become non-convertible were
6600-505: The national currencies had to be carried out using the process of triangulation via the euro. The definitive values of one euro in terms of the exchange rates at which the currency entered the euro are shown in the table. The rates were determined by the Council of the European Union , based on a recommendation from the European Commission based on the market rates on 31 December 1998. They were set so that one European Currency Unit (ECU) would equal one euro. The European Currency Unit
6700-407: The next few decades, it expanded its territory to neighbouring Rascia and Bosnia, and also became recognised as a kingdom. Its power started declining at the beginning of the 12th century. After King Bodin's death (in 1101 or 1108), civil wars ensued. Duklja reached its zenith under Vojislav's son, Mihailo (1046–1081), and his grandson Constantine Bodin (1081–1101). As the nobility fought for
6800-415: The northern part of the country, compared to 3.9 per cent in the coastal region, while a quarter of the population lives below the poverty line (2018). The Law on the Status of the Descendants of the Petrović Njegoš Dynasty was passed by the Parliament of Montenegro on 12 July 2011. It rehabilitated the Royal House of Montenegro and recognised limited symbolic roles within the constitutional framework of
6900-593: The numeric amount varies from state to state, but for texts in English published by EU institutions, the symbol (or the ISO -standard "EUR") should precede the amount. Following the U.S. financial crisis in 2008, fears of a sovereign debt crisis developed in 2009 among investors concerning some European states, with the situation becoming particularly tense in early 2010 . Greece was most acutely affected, but fellow Eurozone members Cyprus , Ireland , Italy , Portugal , and Spain were also significantly affected. All these countries used EU funds except Italy, which
7000-470: The obligation to adopt the euro by not meeting the monetary and budgetary requirements. All nations that have joined the EU since 1993 have pledged to adopt the euro in due course. The Maastricht Treaty was amended by the 2001 Treaty of Nice , which closed the gaps and loopholes in the Maastricht and Rome Treaties. The 20 participating members are EU Outermost Regions : Overseas Territories : Special Autonomous Territories : Microstates with
7100-409: The occupation, King Nicholas fled the country and established a government-in-exile in Bordeaux . In 1922, Montenegro formally became the Oblast of Cetinje in the Kingdom of Serbs, Croats and Slovenes , with the addition of the coastal areas around Budva and Bay of Kotor . In a further restructuring in 1929, it became a part of a larger Zeta Banate of the Kingdom of Yugoslavia that reached
7200-444: The operation of the eurozone payment systems. The 1992 Maastricht Treaty obliges most EU member states to adopt the euro upon meeting certain monetary and budgetary convergence criteria , although not all participating states have done so. Denmark has negotiated exemptions, while Sweden (which joined the EU in 1995, after the Maastricht Treaty was signed) turned down the euro in a 2003 non-binding referendum , and has circumvented
7300-441: The prices were raised once again. This marks the third time that an additional 100 chips were being produced, each time claiming to be the "final run". This (and the fact that some aftermarket clones of original SID chips exist) has raised skepticism as to how scarce the supply actually is, and which run is actually the final run. However, since January 18, 2007 no new SidStations have been shipped. As SidStations were manufactured,
7400-403: The printers: Capital within the EU may be transferred in any amount from one state to another. All intra-Union transfers in euro are treated as domestic transactions and bear the corresponding domestic transfer costs. This includes all member states of the EU, even those outside the eurozone providing the transactions are carried out in euro. Credit/debit card charging and ATM withdrawals within
7500-400: The privatizations, while his sister, Ana Kolarevic, has long controlled the judiciary. The clientelist networks of the ruling party dominated all segments of social life. A party card was required to start a business or obtain a position in the administration. This policy also contributed to the reinforcement of regional disparities and social inequalities. Unemployment climbs to 36.6 per cent in
7600-511: The public; a design competition will also be held. Since 1 January 2002, the national central banks (NCBs) and the ECB have issued euro banknotes on a joint basis. Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the total value of banknotes issued by the Eurosystem. In practice,
7700-517: The reigning People's Party , who supported the process of democratisation and union with Serbia, and those of the True People's Party , who were monarchist. In 1910, Montenegro became a kingdom , and as a result of the Balkan Wars of 1912–1913, a common border with Serbia was established, with Shkodër being awarded to Albania , though the current capital city of Montenegro, Podgorica,
7800-549: The report stated that the competitive pre-referendum environment was marked by an active and generally peaceful campaign and that "there were no reports of restrictions on fundamental civil and political rights." On 3 June 2006, the Montenegrin Parliament declared the independence of Montenegro, formally confirming the result of the referendum. On 28 June 2006, Montenegro joined the United Nations as its 192nd member state. Montenegro has been dominated since
7900-565: The republic's title. Since 22 October 2007, a year after its independence, the name of the country became simply known as Montenegro . The country is known as Mali i Zi (lit. black mountain) in Albanian , while it is known as Crna Gora in Montenegrin, Serbian, Bosnian , and Croatian . Modern-day Montenegro was part of Illyria and populated by the Indo-European-speaking Illyrians . The Illyrian kingdom
8000-539: The republic. In 2015, the investigative journalists' network OCCRP named Montenegro's long-time President and Prime Minister Milo Đukanović "Person of the Year in Organized Crime". The extent of Đukanović's corruption led to street demonstrations and calls for his removal. In October 2016, for the day of the parliamentary election , a coup d'état was prepared by a group of persons that included leaders of
8100-455: The result of the fact that the euro area lacks the support of "institutional paraphernalia (and mutual bonds of solidarity) of a state". The crisis continued with S&P downgrading the credit rating of nine euro-area countries, including France, then downgrading the entire European Financial Stability Facility (EFSF) fund. A historical parallel – to 1931 when Germany was burdened with debt, unemployment and austerity while France and
8200-474: The successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February 2002. The official date on which
8300-566: The throne, the kingdom was weakened, and by 1186, the territory of modern-day Montenegro became part of the state ruled by Stefan Nemanja and was a part of various state formations ruled by the Nemanjić dynasty for the next two centuries. After the Serbian Empire collapsed in the second half of the 14th century, the most powerful Zetan family, the Balšićs , became sovereigns of Zeta. By
8400-404: The union between Montenegro and Serbia was decided by a referendum on Montenegrin independence on 21 May 2006. A total of 419,240 votes were cast, representing 86.5% of the electorate; 230,661 votes (55.5%) were for independence and 185,002 votes (44.5%) were against. This narrowly surpassed the 55% threshold needed to validate the referendum under the rules set by the European Union. According to
8500-547: The uprising took hold, and by 20 July, 32,000 men and women had joined the fight. Except for the coast and major towns (Podgorica, Cetinje, Pljevlja, and Nikšić), which were besieged, Montenegro was mostly liberated. In a month of fighting, the Italian army suffered 5,000 dead, wounded, and captured. The uprising lasted until mid-August, when it was suppressed by a counter-offensive of 67,000 Italian troops brought in from Albania. Faced with new and overwhelming Italian forces, many of
8600-472: The war. Chetniks with Italian backing controlled most of the country from mid-1942 to April 1943. Montenegrin Chetniks received the status of "anti-communist militia" and received weapons, ammunition, food rations, and money from Italy. Most of them were moved to Mostar , where they fought in the Battle of Neretva against the Partisans, but were dealt a heavy defeat. During German operation Schwartz against
8700-433: The €500 with issuance discontinued as of 27 April 2019. However, both the first and the second series of euro banknotes, including the €500, remain legal tender throughout the euro area. In December 2021, the ECB announced its plans to redesign euro banknotes by 2024. A theme advisory group, made up of one member from each euro area country, was selected to submit theme proposals to the ECB. The proposals will be voted on by
8800-412: Was "Vladika of Montenegro"). People from Montenegro in this historical period were described as Orthodox Serbs. In 1858, one of the major Montenegrin victories over the Ottomans occurred at the Battle of Grahovac . Grand Duke Mirko Petrović , elder brother of Knjaz Danilo , led an army of 7,500 and defeated the numerically superior Ottomans with 15,000 troops at Grahovac on 1 May 1858. This forced
8900-612: Was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand. The currency was introduced in non-physical form ( traveller's cheques , electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other. The euro thus became
9000-503: Was an accounting unit used by the EU, based on the currencies of the member states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally pound sterling ) that day. The procedure used to fix the conversion rate between the Greek drachma and the euro was different since the euro by then
9100-609: Was conquered by the Roman Republic in the Illyro-Roman Wars and the region was incorporated into the province of Illyricum (later Dalmatia and Praevalitana ). Three principalities were located on the territory: Duklja , roughly corresponding to the southern half, Travunia , the west, and Raška , the north. Duklja gained its independence from the Byzantine Roman Empire in 1042. Over
9200-451: Was convicted for his part in the bombing of Dubrovnik. Bosnian refugees were arrested by Montenegrin police and transported to Serb camps in Foča , where they were subjected to systematic torture and executed. In 1996, Milo Đukanović 's government severed ties between Montenegro and its partner Serbia, which was led by Slobodan Milošević . Montenegro formed its own economic policy and adopted
9300-510: Was created by the Austrian designer Robert Kalina . Notes are issued in €500 , €200 , €100 , €50 , €20 , €10 , and €5 . Each banknote has its own colour and is dedicated to an artistic period of European architecture. The front of the note features windows or gateways while the back has bridges, symbolising links between states in the union and with the future. While the designs are supposed to be devoid of any identifiable characteristics,
9400-543: Was established until the Socialist Republic of Montenegro ratified a new constitution in 1974. After the formal dissolution of the SFRY in 1992, Montenegro remained part of a smaller Federal Republic of Yugoslavia along with Serbia. In the referendum on remaining in Yugoslavia in 1992 , 96% of the votes cast were in favour of the federation with Serbia. The referendum was boycotted by opposition parties such as
9500-442: Was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$ 1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. Between December 1999 and December 2002,
9600-533: Was liberated by the Partisans in December 1944. Montenegro became one of the six constituent republics of the communist Socialist Federal Republic of Yugoslavia (SFRY). Its capital became Podgorica, renamed Titograd in honour of President Josip Broz Tito . After the war, the infrastructure of Yugoslavia was rebuilt, industrialization began, and the University of Montenegro was established. Greater autonomy
9700-652: Was not permitted to assume the title unless he proved to be as worthy a leader as his predecessor. An assembly of Montenegrin clans ( Zbor ) was held every year on 12 July in Cetinje, and any adult clansman could take part. In 1515, Montenegro became a theocracy led by the Metropolitanate of Montenegro and the Littoral , which flourished after the Petrović-Njegoš of Cetinje became the prince-bishop (whose title
9800-579: Was on the old border of Albania and Yugoslavia. Montenegro became one of the Allied Powers during World War I (1914–1918). In the Battle of Mojkovac fought in January 1916 between Austria-Hungary and the Kingdom of Montenegro, Montenegrins achieved a decisive victory even though they were outnumbered five to one. The Austro-Hungarians accepted military surrender on 25 January 1916. From 1916 to October 1918 Austria-Hungary occupied Montenegro. During
9900-537: Was recognised by the Great Powers at the Congress of Berlin in 1878. In 1910, the country became a kingdom . After World War I , the kingdom became part of Yugoslavia . Following the breakup of Yugoslavia , the republics of Serbia and Montenegro together proclaimed a federation . In June 2006 Montenegro declared its independence from Serbia and Montenegro following an independence referendum , creating Montenegro and Serbia as they exist today. Montenegro
10000-579: Was renamed to the Socialist Republic of Montenegro ( Montenegrin : Социјалистичка Република Црна Гора / Socijalistička Republika Crna Gora ). As the breakup of Yugoslavia occurred, the SRCG was renamed to the Republic of Montenegro ( Montenegrin : Република Црна Гора / Republika Crna Gora ) on 27 April 1992 within the Federal Republic of Yugoslavia by removing the adjective "socialist" from
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