It has already occured at the official time of 15:15 on Feb. 17, 2008.
To see that this has occured, it was a landmark for all nations that favor their independnce. To hear news that there was a war to keep Kosovo and Montenegro in the former Yugoslavia's hands (Serbia) was saddening when American forces were involved and many perished to fight for their rights to govern themselves. Kosovo is thanking USA mightily by waving its flag along with theirs and Albania's. Though I can agree that separatists in the country of Georgia and Russia will rise when they hear the news, this independence was good because rights were taken away from that region, including the freedom to speak the dominantly used world language-English. (It is one official language there.)
I hope they establish a constitution quickly and enjoy permanent self government. Wish them well.