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Montenegro
Searching for car hire is never much fun. That is why
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you arrive in Montenegro. Choose Car Rental options
on size and manufacturer and pay in your own currency.
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The
use of the name Montenegro began in the 15th century when
the Crnojevic dynasty began to rule the Serbian principality
of Zeta; over subsequent centuries Montenegro was able
to maintain its independence from the Ottoman Empire.
From the 16th to 19th centuries, Montenegro became a theocracy
ruled by a series of bishop princes; in 1852, it was transformed
into a secular principality. After World War I, Montenegro
was absorbed by the Kingdom of Serbs, Croats, and Slovenes,
which became the Kingdom of Yugoslavia in 1929; at the
conclusion of World War II, it became a constituent republic
of the Socialist Federal Republic of Yugoslavia. When
the latter dissolved in 1992, Montenegro federated with
Serbia, first as the Federal Republic of Yugoslavia and,
after 2003, in a looser union of Serbia and Montenegro.
In May 2006, Montenegro invoked its right under the Constitutional
Charter of Serbia and Montenegro to hold a referendum
on independence from the state union. The vote for severing
ties with Serbia exceeded 55% - the threshold set by the
EU - allowing Montenegro to formally declare its independence
on 3 June 2006.
Montenegro
severed its economy from federal control and from Serbia
during the MILOSEVIC era and maintained its own central
bank, adopted the Deutchmark, then the euro - rather than
the Yugoslav dinar - as official currency, collected customs
tariffs, and managed its own budget. The dissolution of
the loose political union between Serbia and Montenegro
in 2006 led to separate membership in several international
financial institutions, such as the European Bank for
Reconstruction and Development. On 18 January 2007, Montenegro
joined the World Bank and IMF. Montenegro is pursuing
its own membership in the World Trade Organization and
signed a Stabilization and Association agreement with
the European Union in October 2007. On December 15, 2007,
Montenegro submitted an EU membership application. Unemployment
and regional disparities in development are key political
and economic problems. Montenegro has privatized its large
aluminum complex - the dominant industry - as well as
most of its financial sector, and has begun to attract
foreign direct investment in the tourism sector. The global
financial crisis is likely to have a significant negative
impact on the economy.
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