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“Croatia runs the risk of suffering the same fate as Greece” if it does not reduce its deficit by 1.7bn kune (€220m) in the first three months of next year, warns Jutarnji list.
Figures published by Eurostat on October 21 indicate a deficit of 7.8 per cent of GDP in 2011 and 5 per cent of GDP in 2012, whereas the government had reported figures of 5 per cent and 3.5 per cent respectively. According to experts consulted by the daily, the deficit could reach 6 per cent in 2013, “which is well above the authorised level of 3 per cent and exposes Croatia to the risk of an excessive deficit procedure” imposed by the European Commission.
For some observers, “that would finally put public finances in order,” writes the daily. At the same time, the newspaper warns against “adjustment that is too rapid, which would certainly have a negative impact on economic activity and jobs.”
A conversation with investigative reporters Stefano Valentino and Giorgio Michalopoulos, who have dissected the dark underbelly of green finance for Voxeurop and won several awards for their work.
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