ZAGREB, Dec 7 (Hina) - "The Bank Committee is not a para-state +institution of any kind", Pero Jurkovic, the head of the institute +for banking and insurance and adviser of the Croatian President for +economy issues told Hina on
Monday.+ This is a coordination body, lead by the President, whose goal is +mutual informing for timely intervention and problem solving, +Jurkovic said.+ Coordination was customary in the rest of the world, and the +commission does not impinge upon the independence of the work of +bodies of which the commission was made, namely the Government, the +Finance Ministry, the Croatian National Bank, and judiciary, +Jurkovic marked. + According to him, the banking crisis in Croatia got greater +political attention than it really deserved. Only a small part of +the banking system has been affected by the crisis, Jurkovic said.+ The atmosphere of crisis has been created and panic which
ZAGREB, Dec 7 (Hina) - "The Bank Committee is not a para-state
institution of any kind", Pero Jurkovic, the head of the institute
for banking and insurance and adviser of the Croatian President for
economy issues told Hina on Monday.
This is a coordination body, lead by the President, whose goal is
mutual informing for timely intervention and problem solving,
Jurkovic said.
Coordination was customary in the rest of the world, and the
commission does not impinge upon the independence of the work of
bodies of which the commission was made, namely the Government, the
Finance Ministry, the Croatian National Bank, and judiciary,
Jurkovic marked.
According to him, the banking crisis in Croatia got greater
political attention than it really deserved. Only a small part of
the banking system has been affected by the crisis, Jurkovic said.
The atmosphere of crisis has been created and panic which is
spreading has influence on the trust of depositors in the banking
system, Jurkovic warned.
The cause of the crisis lies in inadequate supervision,
unprofessional behaviour of banks' management, and in a symbiosis
of political and economic factors, that is, the interference of
politics into banks' business activities, particularly on local
levels, said Jurkovic.
The crisis must be resolved next year, for this is a pre-condition
for economic consolidation and normal capital influx which is
necessary to stimulate development in Croatia, Jurkovic
concluded.
(hina) it jn/lml