"Greek banks in Serbia safe”

There is currently no reason for Serbians to be concerned about the status of Greek banks in our country, Finance Ministry's State Secretaty Slobodan Ilić says.

Izvor: Tanjug

Wednesday, 12.05.2010.

10:55

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There is currently no reason for Serbians to be concerned about the status of Greek banks in our country, Finance Ministry's State Secretaty Slobodan Ilic says. "All Greek banks (in Serbia) are well funded, have positive results, carry out their duties towards their clinets and are solvent," Ilic specified. "Greek banks in Serbia safe” Ilic confirmed that the Serbian government was developing a set of anti-crisis laws, which would be implemented in case of an outbreak of a "systemic crisis for any reason." According to Ilic, those laws will include two very important legal acts, on the fiscal system and fiscal responsibility. The law on fiscal responsibility is very important because it should introduce by far more obligations and more fiscal responsibility of all ministries and all other budget beneficiaries, clarified the official. This law should reduce the possibility of indebtedness (of the state) to about 40 percent of the gross domestic product, said Ilic, adding that Serbia's public debt had a growing trend in the past years but that it was still not in a critical zone, similar to what happened in Greece.

"Greek banks in Serbia safe”

Ilić confirmed that the Serbian government was developing a set of anti-crisis laws, which would be implemented in case of an outbreak of a "systemic crisis for any reason."

According to Ilić, those laws will include two very important legal acts, on the fiscal system and fiscal responsibility.

The law on fiscal responsibility is very important because it should introduce by far more obligations and more fiscal responsibility of all ministries and all other budget beneficiaries, clarified the official.

This law should reduce the possibility of indebtedness (of the state) to about 40 percent of the gross domestic product, said Ilić, adding that Serbia's public debt had a growing trend in the past years but that it was still not in a critical zone, similar to what happened in Greece.

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