The discussion, focusing on ways of overcoming indebtedness and personal bankruptcy, was organised by the Austrian Embassy in Zagreb and the Croatian Economy Ministry.
The chairman of the ASB umbrella organisation of debt advice services, Hans Grohs, said that in Austria nine percent of a total of 3.5 million households could not service their debts. The number of personal bankruptcies in Austria increased twofold from 1999 to 2009, he said.
Therefore the Austrian government assists with EUR10 million debt advice services that provide information and financial advice to indebted citizens throughout the country. A study has shown that in that way, the state makes savings in jobless claims and social welfare, and that every euro invested for that purpose brings EUR2.5.
Croatia still has no institute of personal bankruptcy, and the legislation regulating that area is expected to be adopted at the end of 2011, Bohacek said, adding that a public discussion on the need for that institute and its effects should be held before that.