The Relevant Legal Characteristics of the functioning of the European System of Central Banks

Europski sustav centralnih banaka (ESCB) sastavljen je od nacionalnih centralnih banaka država članica EU i Europske centralne banke (ECB) koja ima usmjeravajuću i vodeću ulogu u funkcioniranju ovog sustava. ESCB u organizacijskom i funkcionalnom smislu predstavlja konačni rezultat europskih ekonomskih integracijskih procesa, što samo po sebi govori, kako fazni način - zadnja faza u formiranju ekonomske i monetarne unije (od 01.01.1999. do 01. 01. 2002.), tako i vrijeme na isteku te faze njegovog funkcionalnog zaokruživanja (puštanje u optjecaj europske monete). Ako je uspostavljanje i funkcioniranje ESCB bilo konačno ishodište procesa europskih ekonomskih integracija, prirodno je očekivati i da proces prilagođavanja bankarskog sustava Crne Gore bude također konačni proizvod procesa stabilizacije i pridruživanja Crne Gore EU. Dosadašnji utemeljeni tranzicijski proces, sa trendom pozitivnih makroekonomskih kretanja, stvara uvjete i otvara prepoznatljiv put ka efikasnom prilagođavanju rada crnogorskog bankarskog sustava europskim standardima i uključivanju CBCG u ESCB kao konačni ishod ukupnog procesa stabilizacije i pridruživanja Crne Gore EU.The European System of Central Banks (ESCB) consists of national centraI banks of EU member states and the European Central Bank (ECB) that has a managing and leading role in functioning of this system. In organizational and functional sense ESCB represents the final outcome of European economic integrative processes, that per se mean, the phase period- the final phase in creating the economic and monetary union (from January 1st 1999 to January 1st 2002), as well as the period at the end of that phase of its functional completion (putting into circulation the European currency). If the final outcome of the process of European economic integrations was establishing and functioning of ESCB, it is naturally to expect that the process of harmonization of the banking system of Montenegro would be also the final product of the stabilization association process of Montenegro into the EU. The up to now established transition process with a positive macro economic trend creates the conditions and opens a recognizable way of an efficient harmonization of Montenegrin banking system activities towards European standards and inclusion of CBCG (Centralna banka Crne Gore- Central Bank of Montenegro) into ESCB as the final outcome of the overall Montenegro\u27s stabilization and association process into EU