Croatia: Personal Bankruptcy – A Looming Deluge Threatening The Economy

UNFORTUNATELY…THIS IS SOUNDING ALL TOO FAMILIAR…IN THE U.S. 🙂

Croatia, the War, and the Future

debt

The latest figures released by Croatia’s justice minister Orsat Miljenic say that right now in Croatia there are some 317,000 citizens who have had their bank accounts blocked, preventing them from meeting their financial obligations as well as their everyday needs. Their private/household debt totals some 28 billion Kuna. To put a perspective on that sum it translates into almost 25% of the income/revenue feature of the state budget for 2014/2015! On average, ten families are deprived of their assets — most often their housing — each day as a result of enforcement proceedings.

Croatia has a quite effective legal framework for the enforcement of debt payments, but in six years of deep economic crisis no way has yet been found or asserted to incorporate a social component into the debt collection system. The institutions of personal bankruptcy and debt rescheduling for the over-indebted still do not exist, however public…

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About Jonathan Caswell

Poet, author, servant of God the Heavenly father and the Lord Jesus Christ...working out his salvation with fear and trembling. - Not trusting in his own deeds, but depending totally upon the finished sacrificial work of Jesus Christ to be, by God's reckoning, a new creature, clothed in Christ's righteousness...which mortal humankind can never attain by their own weak efforts, apart from faith in Christ's work on our behalf. - College-educated, yet wise enough to see that what a man does will not be his ultimate identity nor affect how God sees him or her. - Called by God to do a very difficult thing...apart from God's grace, mercy and strength...to love the sinner (which we all--by nature--are) but hate the sin, which is only paid through Christ, God's Son, - My own God-given gift is that of being a Poet..showing that in all parts of life...God has a loving part in it...as hard as that is to always understand or perceive...given life's realities! Come join me on my journey of discovery?.

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