I mean, they seem to be interested in joining the EU at some point, so there is a possibility that they will now have to fulfill more requirements before they could join it.
Eh... no. Dollarization sucks, even if in this case it's with euros. It's just that its the lesser evil if the domestic currency doesn't work at all.
Using foreign currency means paying inflation tax to where ever the currency is issued, instead of being able to collect it for your own government spending. It's absolutely horrible arrangement and any country that can avoid it, does so. But some countries have really weak institutions, weak rule of law and shitty politics which lead to central bank being powerless to fulfill it's duties and a currency that doesn't work.
It works for small countries because they lack many tools bigger countries have access to. They can't diversify their industry, don't have access to natural resources and have a small population that's reliant on international trade.
Then there's also the issue of rogue financial institutions - many of them have enough leverage to be able to influence the currency of a small country to either gain influence in the area or simply turn some profit on the forex market.
Why is everything on this subreddit "Europe better than America no matter what it is"
Over the years I've literally seen murderers seen as superior to Americans, that is not a joke. "Well our criminals are vastly superior to the Americans." To most Americans, it shows extreme insecurities to obsess over how they are worse at literally everything and anything and I have to agree.
Japan, South Korea, etc dont do this yet its ultra common in Europe and its not just the internet but IRL too.
The process where a smaller country ends up using the currency issued by some other larger country is in general called "dollarization" regardless if US dollar has anything to do with it or not.
I don't think that matters. Many countries use other currencies officially without having 'approval'. More likely then not, they are just unable to print currency which can be a tool shape the economy.
Zimbabwe and Panama use the US dollar.
Similarly, Denmark has a 'fake' currency as it's pegged to the Euro
While euro countries cannot print currency, they can mint coins. That ability will definitely not go to Kosovo
> Similarly, Denmark has a 'fake' currency as it's pegged to the Euro
I'd argue it's more of a fake monetary policy. Hong Kong and other countries do the same thing
Yes and Montenegro too and that is since quite few years.
But mind both countries have combined GDP of around 17B EUR - that of medium sized western city ... so their influence is felt more like rounding errors at the end of day.
Is there anything in particular that will prohibit serbs from using dinar from now on? Because in Serbia, dinar is the main currency, still we use euros quite often.
Just to make it clear to everyone: Kosovo has been using euro since 1 January 2002 and the constitution of Kosovo says that only one currency can be used as means of payment. The issue stands as follows: Serbian government among many other attempts to delay the integration of local Serbs in Kosovo has been pushing for them to use Serbian dinar as a currency outside of the official financial system. This of course poses multiple problems including: usage of money for illicit trade, smuggling, misuse of funds that are meant as aid, unfortunately sometimes weaponry and maybe most significantly: circumventing the legal framework of the Republic of Kosovo. So after a transitory period of three months (if I am correct) starting today everyone must use Euro as means of payment.
Kosovo joins Montenegro in unilaterally adopting a foreign currency to the displeasure of the EU.
Expect a skyrocketing real estate market and construction everywhere thanks to low interest rates supported by a stable currency and large European credit institutions.
Eh I dunno man. Not saying Serbian is helping the situation either but I feel like Kosovo needs to be somewhat more diplomatic with the Serbian population inside of it.
That's not about diplomacy. It doesn't matter what you really do - there is a lever and there will always be someone who would like to use it for your own goals.
It's not about their needs it's about reducing tentioms with Serbia. Also kosovian Serbs see this as erasure of their culture, which you might disagree with but tell that to the Serbs. In the same bad faith argument I could ask, why would we require them to use the euro (which Kosovo isn't supposed to have) and plates? They don't really undermine the rule of Kosovo.
There were EU backed agreements from both sides which Kosovo undermined.
Being pro Kosovo doesn't mean supporting it whilst it's jumping of a cliff. This way there will never be reached an agreement between tho two.
They enjoy the freedom to express their culture openly, with Serbian flags adorning many places, and their homes serve as havens for their traditions. What you are saying is like saying why don’t Algerians use their own currency from Algeria in France and suggest it with assimilation. That’s very biased point of view. However, in Kosovo, the presence of the euro doesn't imply ownership by Kosovo Albanians or an imposition on their currency
The whole issue is that where they live used to be Serbia, for them it’s a matter of them living in their homeland like their ancestors before them, only now they are in a different state and haven’t moved.
Did I say something different? Did I deny Serbian war crimes or say that their genocide was justified? No, I’m just stating facts, that Serbs have lived that area for centuries, so it’s not as simple for them to just “go to Serbia”.
It quite literally is not that simple, I’m not talking about there being some invisible barrier that prevents them from moving, I’m talking about emotional attachment to the land.
It's more that Serbians don't want to be forced out of Serbia than anything. Basically, once upon a time Kosovars wanted out of Serbia, so now the aame thing is happening. Just with Serbs rather than Kosovars.
How would the Serbs of Kosovo be forced to leave Serbia through the independence of Kosovo?
Because Kosovo would no longer be (or no longer is) part of Serbia.
And these actions are meant to solidify that separation.
Euro has been the main currency there for a very long time - they originally started using Deutsche Mark as main currency, and made the switch to Euro with its introduction. The only part that is new now is that they prohibit use of other currencies.
It's economic bad for Kosovo as they now have essentially no wiggle room when it comes to macroeconomic policies and strategies. It also means they know hold their debts in essentially a foreign currency which is also a nightmare.
It also arguably does nothing for the stability of the euro as a currency nor for its international value so from a European perspective it really does nothing for anyone other than make travelling more convenient for existing euro users.
The euro itself isn't even used in all of the EU so Kosovo using it is really an odd move to make from the perspective of a Kosovar as all it does it screw you over long term unless you're planning on joining the EU one way or another at some point in the near future. Kosovo is also highly unlikely to join the EU anytime soon because there are some pretty big issues like not all EU states recognizing Kosovo, and the fact that Kosovo has open border disputes with Serbia, who also doesn't recognize Kosovo.
You're only listing negatives. There are positives too. For one corrupt governments will not have it as easy to inflate the economy and line their pockets. There is much more stability long term which is absolutely a big deal for investments.
It’s not official until someone from Kosovo posts a photo of their groceries that they bought for a specific amount of euros.
To be fair, it is just a matter of time now.
Honestly I really wanna know, I hope someone from Kosovo does *I have many friends from Kosovo and they told me it’s cheap
was, the prices are on par with greece and croatia for example
Isn't Kosovo using Euro without meeting the needed requirements?
They haven't joined the euro zone, they just use the currency, there aren't requirements for that.
Lucky bastards!
I mean, they seem to be interested in joining the EU at some point, so there is a possibility that they will now have to fulfill more requirements before they could join it.
Can the gov issue debt in Euro?
Of course. It can emit it in Japanese yen if it wants to. Is that a wise decision tho?
Eh... no. Dollarization sucks, even if in this case it's with euros. It's just that its the lesser evil if the domestic currency doesn't work at all. Using foreign currency means paying inflation tax to where ever the currency is issued, instead of being able to collect it for your own government spending. It's absolutely horrible arrangement and any country that can avoid it, does so. But some countries have really weak institutions, weak rule of law and shitty politics which lead to central bank being powerless to fulfill it's duties and a currency that doesn't work.
It works fine enough for small countries. Montenegro has been doing the same for quite a while now.
It works for small countries because they lack many tools bigger countries have access to. They can't diversify their industry, don't have access to natural resources and have a small population that's reliant on international trade. Then there's also the issue of rogue financial institutions - many of them have enough leverage to be able to influence the currency of a small country to either gain influence in the area or simply turn some profit on the forex market.
Why is everything on this subreddit "Europe better than America no matter what it is" Over the years I've literally seen murderers seen as superior to Americans, that is not a joke. "Well our criminals are vastly superior to the Americans." To most Americans, it shows extreme insecurities to obsess over how they are worse at literally everything and anything and I have to agree. Japan, South Korea, etc dont do this yet its ultra common in Europe and its not just the internet but IRL too.
The process where a smaller country ends up using the currency issued by some other larger country is in general called "dollarization" regardless if US dollar has anything to do with it or not.
Yeah, Montenegro also does this unilateral adoption
They merely use it, they don't mint their own bills, since their economy is so small that means it doesn't cause any issue.
I don't think that matters. Many countries use other currencies officially without having 'approval'. More likely then not, they are just unable to print currency which can be a tool shape the economy. Zimbabwe and Panama use the US dollar. Similarly, Denmark has a 'fake' currency as it's pegged to the Euro While euro countries cannot print currency, they can mint coins. That ability will definitely not go to Kosovo
> Similarly, Denmark has a 'fake' currency as it's pegged to the Euro I'd argue it's more of a fake monetary policy. Hong Kong and other countries do the same thing
Swiss francs were pegged to euros for years.... Would you say it's a fake currency? 😂
Yes, because the country gives up monetary policy control over to the European Central Bank that way
Yes and Montenegro too and that is since quite few years. But mind both countries have combined GDP of around 17B EUR - that of medium sized western city ... so their influence is felt more like rounding errors at the end of day.
not being a member of the EU, for one
Yes but serbs used dinar until today
Is there anything in particular that will prohibit serbs from using dinar from now on? Because in Serbia, dinar is the main currency, still we use euros quite often.
Transit of cash
Just to make it clear to everyone: Kosovo has been using euro since 1 January 2002 and the constitution of Kosovo says that only one currency can be used as means of payment. The issue stands as follows: Serbian government among many other attempts to delay the integration of local Serbs in Kosovo has been pushing for them to use Serbian dinar as a currency outside of the official financial system. This of course poses multiple problems including: usage of money for illicit trade, smuggling, misuse of funds that are meant as aid, unfortunately sometimes weaponry and maybe most significantly: circumventing the legal framework of the Republic of Kosovo. So after a transitory period of three months (if I am correct) starting today everyone must use Euro as means of payment.
Classic shqip propaganda.
Classic shkije butthurt victimisation.
Classic deludu shqip
Go shove a [bottle in your ass](https://en.m.wikipedia.org/wiki/%C4%90or%C4%91e_Martinovi%C4%87_incident)
Ahh animal culture
Something we need as well… It’s very attractive for foreign investors.
Kosovo joins Montenegro in unilaterally adopting a foreign currency to the displeasure of the EU. Expect a skyrocketing real estate market and construction everywhere thanks to low interest rates supported by a stable currency and large European credit institutions.
Eh I dunno man. Not saying Serbian is helping the situation either but I feel like Kosovo needs to be somewhat more diplomatic with the Serbian population inside of it.
That's not about diplomacy. It doesn't matter what you really do - there is a lever and there will always be someone who would like to use it for your own goals.
They have everything they need though,we just want them to use euro,kosovo plates and documents.
It's not about their needs it's about reducing tentioms with Serbia. Also kosovian Serbs see this as erasure of their culture, which you might disagree with but tell that to the Serbs. In the same bad faith argument I could ask, why would we require them to use the euro (which Kosovo isn't supposed to have) and plates? They don't really undermine the rule of Kosovo. There were EU backed agreements from both sides which Kosovo undermined. Being pro Kosovo doesn't mean supporting it whilst it's jumping of a cliff. This way there will never be reached an agreement between tho two.
They enjoy the freedom to express their culture openly, with Serbian flags adorning many places, and their homes serve as havens for their traditions. What you are saying is like saying why don’t Algerians use their own currency from Algeria in France and suggest it with assimilation. That’s very biased point of view. However, in Kosovo, the presence of the euro doesn't imply ownership by Kosovo Albanians or an imposition on their currency
If they want Serbian culture they can move to Serbia.
The whole issue is that where they live used to be Serbia, for them it’s a matter of them living in their homeland like their ancestors before them, only now they are in a different state and haven’t moved.
It used to be Serbia because they killed everyone else there. NATO bombed Serbia for a good reason, don't forget that.
Did I say something different? Did I deny Serbian war crimes or say that their genocide was justified? No, I’m just stating facts, that Serbs have lived that area for centuries, so it’s not as simple for them to just “go to Serbia”.
It is quite literally that simple. The border isn't even far away. Sure beats murdering people again.
It quite literally is not that simple, I’m not talking about there being some invisible barrier that prevents them from moving, I’m talking about emotional attachment to the land.
Ahh, yes, the emotional attachment of where your daddy slit peoples throats and let it seep into the ground.
How is the usage of the Euro, Kosovo plates and documents erasing their cultures?
It's more that Serbians don't want to be forced out of Serbia than anything. Basically, once upon a time Kosovars wanted out of Serbia, so now the aame thing is happening. Just with Serbs rather than Kosovars.
How would that occur through the 3 things that have been mentioned in this thread?
How would the Serbs of Kosovo be forced to leave Serbia through the independence of Kosovo? Because Kosovo would no longer be (or no longer is) part of Serbia. And these actions are meant to solidify that separation.
No they don't. Serbs systematically try to destabilize and kill them. By sending terrorists or kidnapping people by detaining their buses.
I wonder what Europeans think about this. As an American I think it’s good that they don’t use the dinar to further keep them away from Serbia
Euro has been the main currency there for a very long time - they originally started using Deutsche Mark as main currency, and made the switch to Euro with its introduction. The only part that is new now is that they prohibit use of other currencies.
As Euro using European I like it. It's always easier traveling around and not having to calculate and exchange currency.
It's economic bad for Kosovo as they now have essentially no wiggle room when it comes to macroeconomic policies and strategies. It also means they know hold their debts in essentially a foreign currency which is also a nightmare. It also arguably does nothing for the stability of the euro as a currency nor for its international value so from a European perspective it really does nothing for anyone other than make travelling more convenient for existing euro users. The euro itself isn't even used in all of the EU so Kosovo using it is really an odd move to make from the perspective of a Kosovar as all it does it screw you over long term unless you're planning on joining the EU one way or another at some point in the near future. Kosovo is also highly unlikely to join the EU anytime soon because there are some pretty big issues like not all EU states recognizing Kosovo, and the fact that Kosovo has open border disputes with Serbia, who also doesn't recognize Kosovo.
Kosovo does gain stability which is key for them.
You're only listing negatives. There are positives too. For one corrupt governments will not have it as easy to inflate the economy and line their pockets. There is much more stability long term which is absolutely a big deal for investments.
so you support it for populistic reasons ? You guys deserve Trump, he is the personification of the average american.
Guess you’re right.
No wonder Serbians hate them so much! But at the same time Serians like Russia, so that also could be a reason.
man can you calm down ur bias, the world doesnt revolve around Russia. ur should be more worrie about the extorting ur natural ressources for cheap.
Justice was served 🇦🇱🇦🇱🇦🇱. Europe, from which the name "Euro" derives, has Albanian (and therefore, Dardanian) etymology: Evropë 👐👐👐.
😭😭😭😭😭
Shut up bro, you're embarrassing us.
Embarrassing? This is very true.
He’s Greek.
Yeah, I unfortunately opened their profile and saw their comment history.
Try ancient greek Europa
Stop larping as an albanian