Slovenia Launches Process Which Could Cause Economic War With Croatia

Lauren Simmonds

Updated on:

The judgements of the Croatian courts are binding on Slovenia as well as they are on other European Union member states.

As Poslovni Dnevnik writes on the 27th of March, 2018, yesterday, the Constitutional Commission of the Slovenian Parliament began upon the procedure to amend the 1994 constitutional law on the New Ljubljana Bank (NLB) in order to prevent payments to Croatian banks on the basis of the final verdicts of Croatian courts in cases against NLB, due to so-called transferred foreign currency savings.

An expert commission has been appointed to resolve some of the dilemmas that still exist in neighbouring Slovenia over this proposal, but it was concluded that the process of amending the constitutional act could be terminated before the upcoming parliamentary elections, which will most likely be held in May, according to a report from Novi list.

Most participants of yesterday’s meeting agreed that such a process would be initiated and that “Slovenian assets” would be protected from the “illegal” decisions of Croatia, with the exception of Matej T. Vatovec, who likened the proposed amendment to a ”show for the public” which won’t actually solve anything.

Vatovec stated that should this go ahead, it would mean that ”Slovenia will plunder Croatia’s assets in Slovenia, even though Slovenian companies have twice as many assets in Croatia”, concluding that his party, which has five mandates in the Slovenian parliament, does not wants to take part in fuelling the flames in and between Zagreb and Ljubljana with forced bills.

The judgements of the Croatian courts are binding on Slovenia as well as for other EU member states. So far, three verdicts have been issued with a total value of nearly two million euro, but due to other disputes that are levied on account of the transfer of foreign currency savings to the largest Slovenian bank (NLB), which is 100% under state ownership, the bill threatens a bill of more than 400 million euro.

Read more here.


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