The European Union will expect from each member states to further boost its national economy in addition to strengthening the functioning of the rule of law in future, European Commissioner for Enlargement and Neighbourhood Policy Stefan Fuele told a press conference on Tuesday upon presenting the Commission's final report to the Croatian government in Zagreb.
Asked by reporters whether the EU would pay more attention to economic and fiscal problems in future accession processes, having in mind the economic crisis and the latest developments in Cyprus, Fuele responded affirmatively.
You are right. Until now we have concentrated on the rule of law and we will continue to do so in the future but we want new members to achieve a new level of competitiveness and that way contribute to the EU, Fuele said.
He recalled that Croatia had voluntarily accepted to be part of the European semester which encompasses totality of economic governance whereby the EC will make recommendations to all Member States how to achieve the greatest progress.
Prime Minister Zoran Milanovic, who too participated in the press conference, said Croatia had economic problems but that these were typical because the country depended on the developments trade partners and that no-one was currently experiencing economic growth except the Baltic countries. Even though he said that Croatia was not justified by this, he mentioned the current problems in Italy which is Croatia's largest trade market, he underscored that "we are working so that when the economic situation improves we will be ready to be more competitive".
Croatian banks, according to the PM, have a high capital adequacy ratio and high level of liquidity, but their problem is their passivity and inertness.
"The possibility of the Cyprian scenario occurring in Croatia, four years after the start of the crisis does not exist", the PM said.
