In a move that has been widely anticipated, Serbia and Montenegro (the two remaining republics in Yugoslavia) have decided to reorganize the country into a loose union, sharing a common market and joint defense and foreign policy. The country will change its name to "Serbia and Montenegro". The new policy completes the disintegration of the country that began in the early 1990's, when Slovenia and Croatia declared independence. Bosnia and Hertzegovina and Macedonia later split away from the federation, and until recently a strong independence movement in Montenegro held sway.
The whole agreement is still being worked out, and will be voted on again in three years. To read the whole storyfrom CNN Europe, click here.