International Status and Usage of The Euro - International Adoption - Unilateral Adopters

Unilateral Adopters

Further information: Kosovo and the euro, Montenegro and the euro, and Dollarization

State/Territory	Adopted	Seeking	Notes	Pop.
Kosovo	02002-01-011 January 2002	EU Membership	Potential Candidate	70061700000000000001,700,000
Montenegro	02002-01-011 January 2002	EU Membership	Candidate	7005684736000000000684,736

Montenegro and Kosovo have also used the euro since its launch, as they previously used the German mark rather than the Yugoslav dinar. This was due to political concerns that Serbia would use the currency to destabilise these provinces (Montenegro was then in a union with Serbia) so they received Western help in adopting and using the mark (though there was no restriction on the use of the dinar or any other currency). They switched to the euro when the mark was replaced but have no agreement with the ECB; rather the country depends only on euros already in circulation. Kosovo also still uses the Serbian dinar in areas mainly populated by the Serbian minority.

The use of the euro in Montenegro and Kosovo has helped stabilise their economies, and for this reason the adoption of the euro by small states has been encouraged by former Finance Commissioner Joaquín Almunia. Former European Central Bank president Jean-Claude Trichet has stated the ECB – which does not grant representation to those who unilaterally adopt the euro – neither supports nor deters those wishing to use the currency.

In October 2012, the President of Panama Ricardo Martinelli suggested that he was considering making the euro an official currency of the country to go along with the US dollar.