Coalition “Victory for Montenegro” has been defeated in the elections. No, in fact it won and can even constitute a government together with the Liberals, if it accepts to pay the price of approximately two ministerial seats for every sixth Liberal MP. But this price is not such a big problem. The worst thing is that these elections were heralded as a first step toward the referendum and eventual independence of Montenegro. But now it is clear that there is no substance in this. The referendum cannot succeed because Djukanovic’s coalition, together with the Liberals and Albanian parties, won far less than half of the support of the Montenegrin electorate. This means that opponents of the referendum can easily declare a boycott, and the referendum turnout will be below the mandatory minimum. At the same time, it is quite clear that on this occasion Djukanovic received votes from voters who otherwise would not support Montenegrin independence.