Krugman: Croatia’s Destiny in Europe’s Hands

Nobel Prize winner Paul Krugman told Croatia’s leaders today that because of its size, Croatia’s destiny is in the hands of Europe, when he spoke at the 2nd Adris Business Forum in the town of Rovinj on Croatia’s Adriatic coast today.

Krugman, who is a leading American economist and who won the Nobel-Prize in Economic Sciences in 2008, when he was a professor at Princeton University, added that even if the Euro zone did not exist, Croatia would be dependant on Europe’s destiny.

The New York Times Columnist spoke about the causes of the current economic crisis and the global political structure of errors in earlier attempts to get out of it. Krugman warned that repressive state savings would lead to a spiral from which it will be very difficult to find an exit.

“One of my biggest nightmares is that I woke up as the premier small country on the periphery of the euro zone,” said Krugman.

Former Croatian governor Zeljko Rohatinski, Deputy Prime Minister Radimir Cacic and Minister’s Mirando Mrsic and Veljko Ostojic were present at today’s forum, reported daily newspaper Jutarnji list.