"Croatian government have gotten creditors on board a plan to erase
the debts of some 60,000 poorest citizens. The “fresh start” scheme
targets less than 1 percent of the entire debt, but is hoped to boost
the economy in the long-term.
The unorthodox measure
was voted for by the government on January 15 and comes into
force on Monday. To be eligible to participate debtors must have
no savings or property, have a debt no greater than about $5,100
and live on welfare or an income of no higher than $138 per
'We assess that this measure will be applicable to some
60,000 citizens,' Deputy Prime Minister Milanka Opacic said
as he was introducing the bailout. 'Thus they will be given a
chance for a new start without a burden of debt.'"
I look forward to seeing how this helps or hurts the economy overall.