Create Your Own Currency in Just Three Months While Fighting a War

It sounds like one of those offers that you see on Facebook or that pop up in your email inbox, doesn’t it. Like lose 5kg in a week. Or, Earn thousands selling our products!

Aye right.

But in 1991 Slovenia did just that. They declared independence from Yugoslavia on 25 June 1991. That wasn’t straightforward. See below. On 9 October 1991 they began the move to the Slovenian Tolar from Yugoslav Dinar. Three days later that conversion was completed: they had their own currency set up and in use just three months and thirteen days after becoming independent.

On 8 October 1991, Slovenia introduced its own currency and set out on a path of monetary independence. The tolar, its official legal tender at the time, was one of the most important attributes of the Slovenian State. Monetary independence was a precondition in gaining the young country’s international recognition.

Republic of Slovenia, 20 Years of Independence

Slovenia’s Path to Independence. It started well. Here’s the timeline:

Then it got dangerous. Belgrade threatened war. Slovenia resisted.

European Community stepped in to calm things down. The World watched and then responded.


So to get back to Slovenia’s Currency

Between June 1991 and October 1991 they set up their own currency. They did this whilst being threatened by Belgrade and the Yugoslav Army. While fighting a ten day war to stop Yugoslav incursions into their territory. And whilst engaging in peace negotiations with the European Community.

I’m sure there were difficulties in doing all of that but they sure didn’t hang about!

If like me you don’t know much about Slovenia here are the basics and a few comparisons with Scotland:

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