Montenegro: The Last to Leave the Fold?

DARKO VOJINOVIC/AP

Supporters shout 'Victory belongs to Montenegro!'

When the tiny Yugoslav republic of Montenegro (pop. 650,000) adopted the euro last month — replacing its official currency, the deutsche mark — the move was greeted in the capital Podgorica with near universal acclaim. With its sultry Adriatic breezes, cyprus-lined boulevards and busy sidewalk cafs, the city already feels more a part of southern Europe than the benighted region known as the Balkans. And Montenegrins regard the euro as an important step toward further integration with the more prosperous countries of Western Europe. That goal, in fact, is the one thing everyone can agree on. Where Montenegrins differ, heatedly, is...

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