VETERANS' MINISTER PUTS FORWARD DATA ON CRASH OF CIBALAE BANK

VINKOVCI, March 29 (Hina) - "The crash of Vinkovci-based Cibalae Bank comes as no surprise when we know that the bank's management was in tandem with centres of political power and (former ruling party) HDZ's local political structures," Croatia's Veterans' Minister Ivica Pancic said in Vinkovci on Wednesday. "Those who were behind the crash of Cibalae Bank are now asking the government to rehabilitate the bank. It is up to the government to decide whether it will agree to do so, but personally, and I will say so at the government session, I believe that to give money to those who are responsible for the situation in the bank would be throwing it to the wind," Pancic told reporters. He believes "the only solution to the problems amassed in Vukovar- Srijem County, which culminated in the blockade of Cibalae Bank, lies in resignations by (local) Authorities and the dissolving of the County Assembly, and as a result of that, the holding of early local elections." Minister Pancic also put forward data on Cibalae Bank's transactions which he said did not belong to any source, but were his own. The data shows the bank's gross stock capital is estimated at over 112 million kuna (US$14 million), and its losses at over 200 million kuna (US$25 million). This shows the bank operated "more on politics and less on economy," Pancic said. (hina) ha mm