Slovenia to Seek Renewed Arbitration on LB Debt
Foreign Minister Dimitrij Rupel has told the parliamentary foreign policy committee that Slovenia would seek renewed arbitration on the debt of the defunct bank Ljubljanska banka (LB) to Croatian savers.
Speaking in parliament on Wednesday, Rupel said he had proposed arbitration on this issue in a recent letter to Croatian FM Kolinda Grabar-Kitarovic.
However, he also recalled how the two countries had agreed to seek advice on the matter from the International Monetary Fund (IMF) in 1999, yet Croatia never submitted the necessary documents.
Interestingly, a Croatian daily reported last week that Croatia would soon propose arbitration on the LB debt. Vjesnik said that this would be poor timing, as Croatia should wait for the verdict of the European Court of Human Rights, where a group of savers is suing Slovenia.
Rupel's statement also comes just days after the news that Croatia filed an arbitration motion against Slovenia over undelivered electricity from the jointly-owned Nuclear Power Plant Krsko (NEK).
The foreign minister mentioned that Slovenia wanted to take NEK to arbitration last year, but Croatia refused. However, while Croatia is seeking compensation for undelivered power, Slovenia insists that Croatia owes money for NEK decommissioning and nuclear waste storage.
Rupel reiterated that Slovenia is not shying away from arbitration, but it would like to try and tackle the open issues bilaterally once more in the period of Croatia's EU accession.
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