"There will probably be no direct financial impact on Croatia, although the developments in Greece will shake the eurozone, and even countries outside the European Union. For instance, countries in our neighbourhood where Greek banks operate, such as Serbia (will feel the consequences)," Domazet said.
The negotiations between Greece and its major creditors on bailout assistance terms failed last week and Athens is likely to default on a key payment to the International Monetary Fund on Tuesday.
The Greek government called a bailout referendum for Sunday, 5 July, when the Greeks are expected to accept or reject the terms offered by international lenders. Greek banks are closed until 6 July, after the government imposed capital controls.
Domazet notes that 7,000 banks are active in the European Union, with their assets accounting for 350% of the Union's GDP, and the developments in Greece may trigger off problems.
Repercussions on the Union will be political, geopolitical and geo-economic, as this is not solely an economic issue for the Union, which does not know or does not want to find a solution. Greece makes up a mere 2% of EU's GDP, but we can see that all this will strongly impact the Union," Domazet said.
"This has been the gravest crisis of the European Union since its establishment."
Economic expert Damir Novotny said that the imports from the dollar-pegged markets would become more expensive for Croatia regarding the Greek crisis, however, he believes, that the European bloc would find a solution in the foreseeable future.
As for making comparisons between Greece and Croatia, Novotny said that Croatia "is a benign case".
Nevertheless, Croatia will have to realise that it can no longer live off someone else's money, the expert warned.