Suchergebnisse

The author is critical of the introduction of the euro from the point of view of national & political economy. His criticism is based on four assumptions. The first is that the introduction of the euro gives rise to certain legal concerns. Some countries had not met the criteria for the introduction of the euro, yet it was introduced, which means that the European parliament & the national governments & their parliaments no longer respect the due process of law. The second is that the foreign debt, which amounts to 120% of GNP, is impossible to repay in those democracies that are not in the position to impose austerity measures that would include several legislatures. The third criticism is based on the fact that European countries are at different levels of development, which makes the monetary union much too vulnerable. The fourth criticism refers to the fact that common currency means common policy, &, consequently, the end of nation-states in Europe. Croatia may join the EU, but this would pose a challenge to its national sovereignty. 2 Tables. Adapted from the source document.

The debtors' crisis at the end of the 20th century is a hard reality facing transitional countries (and others as well). However, to borrow or not to borrow is a false dilemma. In the situation when in most transitional countries, the local accumulation is insufficient for financing economic development & completing the transitional process, the only alternative is borrowing. This is particularly unavoidable when the influx of foreign capital via direct investments is meager. This is also true for the Republic of Croatia, in which the level of direct investments is, for the time being, very modest. Borrowing, particularly from foreign countries, calls for a high degree of caution, a well-thought out approach to borrowing, & the rational use of the loans. 5 Tables, 14 References. Adapted from the source document.

The author presents the conditions in which Slovenia achieved independence: the break up of communism in Yugoslavia & the decision of the Slovene people for democracy; the threat of Greater Serbian policy & the strength of communism in the so-called Yugoslavia; & the international community's lack of understanding. In spite of unfavorable conditions, Slovenia became an independent state thanks to the successful defense against the aggression of the JNA (Yugoslav People's Army). After the brief conflict, a high degree of political stability was reached (in spite of the high number of parliamentary political parties), & a successful economic policy was established. Slovenia has a common interest with Croatia in international relations. The author emphasizes that Slovene-Croat relations can be advanced through systematic solving of potential conflicts: the determination of the exact border; obstacles to economic cooperation; protection of property rights; the status of the nuclear plant "Krsko"; & the debt of the Bank of Ljubljana. Adapted from the source document.