Luka Jagor | Blogger :: Digital Artist | 𝘳𝘶𝘯𝘯𝘦𝘳 · #𝘥𝘫 · 𝘩𝘰𝘣𝘣𝘺𝘪𝘴𝘵

ᴵⁿ ᵗᶦᵐᵉˢ ᵒᶠ ᶜˡᶦᵐᵃᵗᵉ ᵉᵐᵉʳᵍᵉⁿᶜʸ https://climateclock.world/ 🔹 In the late 1990s, Croatia faced more than just a financial collapse — it faced a crisis of trust. When banks fell and savings disappeared, the government needed a new path forward. What came next was not a revolution in finance, but a revolution in concrete: the building of the A1 motorway and the Adriatic–Ionian highway projects. The Croatian banking crisis of 1998–1999 marked a turning point not only for the country’s fragile financial system but also for its economic direction. When banks collapsed under the weight of bad loans, political ties, and poor oversight, confidence in financial institutions evaporated. The state stepped in, but instead of reforming financial engineering toward transparency and innovation, it turned the nation’s focus elsewhere — onto concrete and asphalt. The love between an economist and an engineer often ends in financial engineering: numbers meet structures, models marry mech...

ᴵⁿ ᵗᶦᵐᵉˢ ᵒᶠ ᶜˡᶦᵐᵃᵗᵉ ᵉᵐᵉʳᵍᵉⁿᶜʸ https://climateclock.world/ Introduction The Croatian banking crisis of 1998-1999 shook the country's financial system and revealed deep structural weaknesses. Several banks collapsed completely, never returning to business. Unlike Dubrovačka banka or Croatia banka, which were rescued, the following institutions went bankrupt and disappeared from the market. Some banks showed irresponsible management… sometimes even criminal activity, granting a large part of their loans to connected persons, resulting in liquidity problems. Glumina Banka Glumina Banka was one of the first major casualties. By mid-1998, its potential losses were several times higher than its capital base. Payment obligations were repeatedly missed, and the Croatian National Bank (CNB) refused to support its rehabilitation. In March 1999, bankruptcy proceedings were officially launched, ending the bank's operations. Komercijalna Banka (Zagreb) Komercijalna Banka face...

ᴵⁿ ᵗᶦᵐᵉˢ ᵒᶠ ᶜˡᶦᵐᵃᵗᵉ ᵉᵐᵉʳᵍᵉⁿᶜʸ https://climateclock.world/ The late 1990s marked one of the most turbulent financial chapters in modern Croatian history. As the country transitioned into a market economy, it faced growing pains that exposed deep flaws in the banking sector. The collapse of major banks such as Dubrovačka banka and Croatia banka forced the state to step in with costly bailouts, reshaping public trust in financial institutions. The bailouts were not just financial rescues; they were warnings about the fragility of Croatia’s post-transition economy. Background: A Fragile System In the years leading up to the crisis, many Croatian banks expanded aggressively, often without proper risk management or oversight. Dubrovačka banka, once a strong regional institution, and Croatia banka, among the country’s largest, both became entangled in risky lending practices, political connections, and internal mismanagement. When non-performing loans piled up and liquidity dried out...