Republic in the Balkan Peninsula bordered on the W by the Adriatic Sea, Bosnia and Herzegovina, and Croatia, on the N by Hungary, on the E by Romania and Bulgaria, and on the S by Macedonia and Albania. The nation came into existence as reconstituted remainder of Yugoslavia in 2003.
Most governmental power shifted to the two republics of Serbia and Montenegro. The two republics had a common foreign and defense policy but separate currencies and customs regulations, and after three years either republic could vote to leave the union.
Svetozar Marovic, of Montenegro, was elected the first president of the union. On May 21, 2006, Montenegro voted to be independent and declared independence on June 3, 2006. On June 5, 2006, Serbia also declared independence, ending the State Union of Serbia and Montenegro. See Yugoslavia, Serbia, and Montenegro.