Monday, June 7, 2010

Croatia to join Eu- Another waste of space

What are the Eu politicians playing at?
Croatia is a tourist trap and has a stubbornly high unemployment rate, a growing trade deficit and uneven regional development. The state retains a large role in the economy, as privatization efforts often meet stiff public and political resistance. While macroeconomic stabilization has largely been achieved, structural reforms lag because of deep resistance on the part of the public and lack of strong support from politicians. The EU accession process should accelerate fiscal and structural reform. While long term growth prospects for the economy remain strong, Croatia will face significant pressure as a result of the global financial crisis. Croatia's high foreign debt, anemic export sector, strained state budget, and over-reliance on tourism revenue will result in higher risk to economic stability over the medium term.

This sounds like another Greece waiting to happen.
Croatia doesn't meet the entrance criteria surely and certainly not the Euro.
I suggest that the politicians have been offered holiday homes!!!!!

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