Croatia's government survives no-confidence vote
By Associated Press | Published: 11th November 2017 03:06 PM |
Last Updated: 11th November 2017 03:06 PM | A+A A- |
Police stand in front of the residence of Ivica Todoric, founder of the Croatia's biggest private company, in Zagreb | AP
ZAGREB (CROATIA): The center-right Croatian government has survived a no-confidence vote launched by the opposition over the cabinet's handling of the debt crisis at Agrokor, the country's largest private food and retail company.
The vote early Saturday in the Croatian parliament was 78-59 in favor of the center-right government. The vote was triggered by the opposition, which claims the government bailout of the biggest retailer in the Balkans favored some creditors and lacked transparency.
Agrokor, which employs some 60,000 people throughout the Balkans, racked up debt of about 6 billion euros ($7 billion) in recent years, including a disputed sum owed to a Russian state-run bank.
Agrokor founder Ivica Todoric turned himself in to London police last week after a European arrest warrant was issued for him by Croatia. He's now awaiting extradition.
