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Kosovo Takes Bold Step to Ban Serbian Currency
In a bold move, Kosovo police closed six branches of a Serbia-licensed bank following a decision to ban the use of the Serbian dinar currency in the country. This decision has significantly escalated tensions with neighboring Serbia. The branches of the Postal Savings Bank were shut down based on allegations of illegitimacy and with authorization from the prosecutor’s office.
Government Mandates Euro Adoption
Beginning on Feb. 1, Kosovo enforced the use of the euro currency in areas predominantly populated by the ethnic Serb minority, eliminating the Serbian dinar. The implementation was delayed for three months due to pressure from the European Union and the United States, concerned about the potential impact on the ethnic Serb minority in northern Kosovo.
Stalemate in EU-Facilitated Talks
Despite agreements reached by Serbian President Aleksandar Vučić and Kosovo Prime Minister Albin Kurti last year, EU-facilitated talks have stalled. Tensions escalated last September after a deadly shootout. Both countries aspire to join the EU, but their failure to compromise jeopardizes their chances.
The history of conflict between Serbia and Kosovo dates back to the 1998-99 war, culminating in Kosovo’s declaration of independence in 2008, which Belgrade does not recognize.
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