"All these criticisms are irresponsible," Linic told reporters before the start of the cabinet meeting in Zagreb.

He recalled that Croatia's public debt had been accrued over 23 years, and mostly through irresponsible management of finances from 2004 to 2011 in the sectors of shipbuilding, public healthcare, railways and Croatia Airlines.

The debt has not only been accumulated but it has been created in non-transparent way, the minister said recalling that 200 billion kuna of the debt is due for repayment.

"I am ashamed of pundits who claim that the public debt needn't be repaid and that one should not care about it, Linic said cautioning Croatians to beware of "quasi-scientists".

He said that every country has to repay its debt and Croatia has to service its debt through the privatisation of companies or the sale of assets as this cannot be done through the collection of taxes.

Taxes are already high for citizens and business people, he explained.

Linic went on to say that this government had managed to reduce the budget deficit to 3% and was coping with the recession, which, he said, some found to be irritable.

Asked about the latest plan to bail out Centar Banka, the minister said that the alternative to allowing the injection of foreign capital into that commercial bank was its liquidation, which would mean that the state would be forced to ensure 500 million kuna for insured deposits.

According to him, "you can opt either for paying 200 million or using 50 million in an attempt to salvage the bank".

Asked by reporters whether pensions' funds might be included in the monetisation of the debt through the lease of motorways, Deputy Prime Minister Branko Grcic said pension funds had made long-term investments and it can be so with investments into motorways.

Nothing should be ruled out, he added.