26.11.11

Banking panic in Croatia is reality


One bank down, four to follow

My patience is over.

I have completely lost faith in croatian banks. More so, I have lost faith in Croatian Central Bank who failed to act properly on the recent Credo Bank banruptcy.

More so, I have lost faith in some croatian investment funds who never disclosed information that they had parked the money of their clients in no name - zombie banks.

The whole system is not stable anymore, although many state officials tried to calm down public and try to prevent panic.

Now we need to wait and see. Financial disease spreads faster than I thought before and in places where you wouldn't expect normally.

Extraordinary times, indeed.

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