Governor receives a delegation from the Italian Ministry of Finance and Economy in charge of combating euro counterfeiting


The Governor of the Central Bank of Montenegro (CBCG), Radoje Žugić and his colleagues met today with the Italian Ministry of Finance and Economy representatives in charge of combating the euro banknotes and coins counterfeiting, Giacomo Carboni and Gaetano Matresano.

The visit of representatives of the Italian Italian Ministry of Finance and Economy to the CBCG and the Police Directorate of Montenegro is conducted as part of the European Commission’s Pericles IV programme. The Programme provided financial assets to strengthen the administrative and technical capacities of Montenegrin institutions in combating euro counterfeiting.

At the meeting, it was concluded that, although it is an attractive tourist destination susceptible to the influx of a certain amount of counterfeit money,  Montenegro does not have a euro counterfeiting systemic problem.

“The Montenegrin legal framework on protecting the euro is fully in line with the EU acquis, and the CBCG employees for protecting the euro against counterfeiting are recognised as excellent experts in this area. They are even hired by partner central banks of the euro area as experts and trainers for detecting counterfeit euro coins,” Governor Žugić pointed out.

He added that the CBCG and the banking sector had achieved the highest compliance with the regulatory framework with the best European central banking standards.

Experts from the Guardia di Finanza conveyed Italy’s experience in combating counterfeiting to Governor Žugić and expressed their satisfaction with the cooperation with the CBCG.

During their stay, the Italian experts will hold several meetings with the CBCG and the Police Administration of Montenegro representatives.