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Simeon Mitropolitski

Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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8 April 2008

Montenegro: Two years after independence

© 2008, IRED.Com, Inc., Simeon Mitropolitski

Two years after becoming an independent state, Montenegro is still struggling on its way toward the European Union and NATO. It may turn that becoming member of these organizations wouldn't be easier, and probably would take longer, than separating its political destiny from Serbia. So far Brussels is encouraging Montenegro in its bid, without making official forecasts as to the possible timing of the memberships. In the meantime, the country continues to rely on its natural assets, and to attract rich West European investors to its beautiful Mediterranean coast.

In 2006 Montenegro, after a referendum, left the short-lived confederation with Serbia and became the newest European state. Today, when the title 'newest' is attributed to another Balkan country, Kosovo, Montenegro is still on its way toward its European and Atlantic goals. Since it became an independent state, Montenegro got some official upgrade in its application for the European Union and for NATO. In October 2007, it signed a key Stabilization and Association agreement with the EU, considered as an important intermediary step toward the full membership. Just days ago, it got some encouraging words during the NATO summit. Considering the usual delays from the application to the membership in these two organizations, much longer for the EU, Montenegro could realistically become a NATO member not earlier than in 2012, and EU member by 2018-2020.

On the domestic political arena, the forces that took the country away from Belgrade are still in full control. Just days ago the Montenegro's incumbent president Filip Vujanovic was reelected, leaving far behind all the other candidates. What's significant in the aftermath of the election is that the EU immediately congratulated the winner, thus putting a European seal on his political credentials, an important element on the road toward full EU membership.

Interestingly enough, Montenegro isn't so far affected by the real estate fears that have already taken large parts of Europe. The paradox is that this country is very dependent for its economic development on the real estate investments; officially, a significant part of the almost $2 billion foreign investments since the independence have been used to buy residential properties along the 300 km long seacoast. Unlike some other Balkan destinations, Montenegro is still among the advertised destinations for investors. A possible explanation for this paradox is that the country is targeting higher segment of buyers, fewer but richer investors, people that usually don't change their buying habits with every economic cycle.

Montenegro, country profile:

  • Capital: Podgorica.
  • Area: 14,026 sq.km.
  • Sea coastline: 293.5 kilometers.
  • Population: 684,000 (July 2007 est.).
  • Population growth rate: -1% (2007 est.).
  • Ethnic groups: Montenegrins (43%), Serbs (32%), Bosniak (8%), Albanians (5%), other 12%.
  • Religions: Christian Orthodox, Muslim, and Roman Catholic.
  • GDP per capita (PPP): $3,800 (2005 est.).
  • Main trading partners: Switzerland, Italy, Germany, and Greece.
  • Unemployment rate: 27.7% (2005).
  • Population below poverty line: 7% (2007 est.).
  • Internet users: 266,000 (2007 est.).

    (Source: CIA World Factbook 2008, Reuters)

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    See also the directory of companies providing real estate services in, and general real estate information of Montenegro.

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