Breakup Timeline: 1991–2008
This document outlines the timeline of the breakup of Yugoslavia from 1991 to 2008, detailing the sequence of independence declarations by its constituent republics. It also touches upon the currency transitions that occurred as each new nation adopted its own monetary system following the dissolution of Yugoslavia.
Slovenia – 1991
Slovenia was the first to break away, declaring independence on June 25, 1991. This led to a brief 10-day war with the Yugoslav army. Today, Slovenia is a stable EU member using the Euro (€) as its currency.
Croatia – 1991
On the same day, Croatia also declared independence. This act sparked the Croatian War of Independence, a brutal and prolonged conflict. Croatia now also uses the Euro (€), having adopted it in 2023 after retiring its former Kuna.
North Macedonia – 1991
In September 1991, North Macedonia declared a peaceful separation. Due to a naming dispute with Greece, it was initially referred to as the "Former Yugoslav Republic of Macedonia." It now goes by North Macedonia and uses the Macedonian Denar (MKD).
Bosnia and Herzegovina – 1992
Bosnia and Herzegovina declared independence in March 1992. The aftermath was a devastating war that lasted until 1995. Today, the country uses the Convertible Mark (BAM), pegged to the Euro.
Montenegro – 2006
After Yugoslavia officially ceased to exist in 2003, Montenegro remained in a loose union with Serbia until 2006, when it declared independence following a referendum. Though not a Eurozone member, it uses the Euro (€) unilaterally.
Serbia – 2006
Following Montenegro’s exit, Serbia emerged as a fully independent nation, recognized as the legal successor to the former Yugoslavia. It continues to use its own Serbian Dinar (RSD).
Kosovo – 2008 (Disputed)
In 2008, Kosovo declared independence from Serbia. However, its statehood is not universally recognized—with countries like Serbia and Russia opposing its independence. Despite this, Kosovo uses the Euro (€) unilaterally.
💱 Currency Transitions
Yugoslavia originally used the Yugoslav Dinar—a currency that underwent multiple redenominations due to hyperinflation in the 1990s. After the breakup, each new nation adopted its own monetary system.
