New businesses are likely to have been even more severely affected by the crisis than mature businesses, even in non crisis times, new and young firms tend to be more constrained than older firms which often have established reputations and enjoy easier access to finance. Given the sudden...

Recognizing the important progress with structural reforms so far, on October 12, 2011, the European Commission recommended the opening of formal membership negotiations for Montenegro. Further, in December 2011, Montenegro was granted the membership in the World Trade Organization (WTO), and in...