Zoran's Feed
Apr 17, 2014

Croatia cuts GDP growth forecast, budget spending

ZAGREB, April 17 (Reuters) – Croatia will cut investments
and subsidies and raise excise on petrol and telecom operators
to reduce its budget deficit to meet European Commission
requirements, it said on Thursday.

The new measures should reduce the shortfall by some 1.3
billion kuna ($235 million), but Finance Minister Slavko Linic
acknowledged they would also stifle growth, which the
ex-Yugoslav economy last achieved in 2008.

Mar 11, 2014

Croatia’s ex-PM, biggest party sentenced over slush funds

ZAGREB (Reuters) – Former Croatian prime minister Ivo Sanader and his political party were found guilty on Tuesday of rigging public tenders and abusing state funds in the biggest corruption trial to date in the new European Union member.

The conservative HDZ, which ruled Croatia for 16 of its 22 years of independence, became the first political party sentenced for corruption. The trial, which started in April 2012, was part of an anti-graft drive to boost Croatia’s attempt to join the EU, which it did in July 2013.

Feb 5, 2014

Life grinds to a halt in Slovenia’s frozen west

POSTOJNA, Slovenia (Reuters) – Cars stand entombed in a crystal-like casing near the deserted railway station in Postojna. Trees and electricity pylons lie felled in the snow by the sheer weight of ice enveloping them.

The damage wrought in western Slovenia by a freak ice storm and blizzards could take weeks or months to repair in a tiny EU member-state already going through its worst economic crisis in two decades as an independent state.

Jan 29, 2014

Slovenia struggles to let go of treasured state companies

LJUBLJANA/ZAGREB, Jan 29 (Reuters) – The gloves came off as
Joseph A. Mussomeli neared the end of his tenure as Washington’s
envoy to Slovenia, a posting that coincided with the country’s
narrow escape from submission to an international bailout.

An American firm was in the running to buy Slovenia’s
Fotona, a state-owned developer of medical and military laser
gear with big sales in the United States. It was a rare example
of this ex-communist country, now proud of its euro zone
membership, selling a treasured corporate possession.

Jan 8, 2014

Croatia court approves ex-spy chief’s extradition to Germany

ZAGREB (Reuters) – A Croatian court ruled on Wednesday that a communist-era intelligence chief could be extradited to Germany where he is wanted over a killing of a Yugoslav dissident in the 1980s.

Josip Perkovic, who was in office when Croatia was part of communist federal Yugoslavia, was arrested on New Year’s Day as the Balkan state acted to resolve an extradition dispute that had overshadowed its accession to the European Union last July.

Dec 26, 2013

Insight – Slovenian beer turns sour as state fire sale looms

LJUBLJANA (Reuters) – A decade ago, with Slovenia cruising towards membership of the European Union, a local brewery called Union caught the eye of Belgian beer giant Interbrew.

Union and its larger rival, Lasko, are national treasures in Slovenia, a question of allegiance that divides beer drinkers the same way football splits Manchester between City and United.

Dec 26, 2013

Slovenian beer turns sour as state fire sale looms

LJUBLJANA, Dec 26 (Reuters) – A decade ago, with Slovenia
cruising towards membership of the European Union, a local
brewery called Union caught the eye of Belgian beer giant
Interbrew.

Union and its larger rival, Lasko, are national
treasures in Slovenia, a question of allegiance that divides
beer drinkers the same way soccer splits Manchester between City
and United.

Dec 18, 2013

Slovenia starts bank rescue after green light from EU

LJUBLJANA, Dec 18 (Reuters) – Slovenia began a
state-financed rescue of its troubled banks on Wednesday,
approving a 3.2 billion-euro capital boost for five lenders that
should enable it to avoid seeking outside aid for now.

Of the total sum, 445 million will go to two banks that are
already in “controlled liquidation”, Probanka and Factor Banka.
The rest will go to the top three lenders, NLB, NKBM and Abanka,
the finance ministry said in a statement.

Dec 16, 2013

Slovenia to pay banks for bad loans with short-term bonds

LJUBLJANA (Reuters) – Slovenia’s bailed-out banks will be paid for 4.5 billion euros ($6.18 billion) of bad loans with two and three year bonds that will allow them to access cash and fund new business, the head of the country’s bad bank said on Monday.

Slovenia announced on Thursday that its banks would be paid about 1.6 billion euros for transferring their most troubled loans to the bad bank. Torbjörn Mansson, head of the bad bank, told journalists on Monday banks would be paid with a combination of two and three year bonds.

Dec 12, 2013

Slovenia says to save banks alone, brings relief for EU

LJUBLJANA, Dec 12 (Reuters) – Slovenia’s ailing banks need
4.8 billion euros in extra capital to stay afloat, a sum the
small euro zone country said on Thursday it would raise alone
without becoming the bloc’s latest bailout recipient.

The figure, taken from the results of an external audit,
drew a sigh of relief from the European Union.

    • About Zoran

      "Based in Zagreb, Croatia, I oversee the political and financial coverage of Croatia and Slovenia and help coordinate regional efforts in the Western Balkans, comprising Albania, Bosnia, Macedonia, Montenegro, Kosovo and Serbia. Have been with Reuters since 1993."
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