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EC formally warns Croatia over loan conversion act

Author: Roberta Mlinarić

ZAGREB, July 8 (Hina) - The European Commission on Friday confirmed having sent Croatia in mid-June an official letter of warning regarding the conversion of loans denominated in Swiss francs into euro loans, being of the opinion that the country's loan conversion law had shifted all of the conversion costs onto banks and that its retroactive application jeopardised the principle of legal security.

(Hina) rml

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