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Minister Wants To Cut Bank Overdrafts

Croatia’s Minister of Finance Slavko Linic wants to discipline the banks in Croatia, and he is preparing to introduce new legislation to do it, writes daily newspaper Jutarnji list.

Amongst a number of new proposals, Linic plans to introduce overdraft restrictions. Currently banks can allow clients up to the equivalent of 3 month salaries in overdraft capabilities, but the Minister wants to cut that down to a maximum overdraft of the equivalent of one month salary.

The move is sure to not please the banks nor citizens, but as Jutarnji list reports, it may not have much hope in getting off the ground as it does not conform with EU directives.

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