FinMin thinks deal with banks on loan conversion lawsuits possible

Finance Minister Zdravko Maric said on Monday he thought it was still possible, through talks and an agreement with banks, to avoid "unnecessary court, arbitration and other costs" because of lawsuits which banks have announced against Croatia over the conversion of Swiss franc loans.

"I think we should absolutely try and see if it's possible, through talks and an agreement, to avoid unnecessary court, arbitration and other costs, interest rates and such. But this is something we will see in the days ahead," Maric told reporters.

Asked if he saw these lawsuits as another INA-MOL issue, as does the Bridge party, with which the Croatian Democratic Union is negotiating the formation of a new government, he said such lawsuits had far-reaching connotations.

"As soon as we are at an international court, that has some far-reaching connotations, not just financial, but also in terms of reputation and otherwise. I still think it's possible to find a certain solution without that, but let's see if we will succeed through these talks."

Maric said the government would send its response to the European Commission concerning the conversion by the end of the week, as announced.

Last update: Mon, 26/09/2016 - 15:32

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