Croatian banking sector to support reforms helping economic recovery.

By bne IntelliNews January 16, 2012
Croatia's banking sector will support all reforms that contribute to the strengthening of the financial industry's security and the economic recovery, news agency HINA reported, quoting the Croatian Banking Association (HUB) as saying. The association stressed that the sector will put in an additional joint effort in restructuring and in encouraging economic growth. It will also help finding a model for restructuring some of the existing claims. HUB said that it will be ready to make comments on the new measures of the government once they are adopted. The HUB remarks came in response to a recent statement of finance minister Slavko Linic that under the financial operations law the banking sector will have to contribute to the economic recovery. The government does not plan to introduce new taxes for the banking sector but hopes to involve banks in saving production and jobs via putting their claims in service of the economic consolidation. The cabinet is ready to give up a significant portion of its claims in order to stimulate growth and would like to see banks doing the same, Linic has said.

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