Shorts

Yugoslavia - Slovenia: The Cyprus Clash

In the area of the former state, one of the most important battles has been going on for several years now, fortunately without guns and cannons - the legal battle over the former Yugoslavia’s legacy, most of all over the currency reserves and division of the debt. The first move was made by the war-free Slovenia. Finally, after lengthy negotiations, it succeeded to conclude its solo-agreement with the Paris Club at the beginning of this year. Slovenia would overtake 18% or $838 million of former Yugoslavia’s debt, but only under the condition that the commercial banks free Slovenia from "solidary responsibility".

The crediting banks agreed to this offer, then the Slovenian Parliament ratified the agreement and Slovenia hastily issued bonds which foreign creditors accepted as replacement of the mentioned portion of the debt... Everything went nicely and things seemed optimistic until the National Bank of Yugoslavia (plus three Yugoslav banks) pressed charges to the commercial department of a London court.

Plaintiffs were short of elaboration - they have decided to press charges because Slovenia did not wish to pay the part of Yugoslav debt that was bought out on the "secondary markets", which really meant that some Yugoslav banks (i.e. banks controlled by Yugoslav authorities) used Yugoslav foreign currencies reserves to buy out cheaply part of the debt during the war and while the inflation was slowing down. This transaction (conducted in secrecy until the Slovene authorities found out about it) was to bring profit since the former Yugoslav New Financial Agreement (NFA) did not stipulate "independent" settlement of the debt with creditors. This also meant that some Yugoslav banks, receiving hints from the authorities, cheaply bought out part of former Yugoslav debts on the market in the moment when the war was at full force and the price of the debt was fastly falling because hardly anybody expected to collect old debts from the states at war at their nominal value, dollar for dollar. It so happened that the debts were sold for several cents per dollar. The calculations of the Belgrade authorities and bankers was that later the value of the debt will go up, and they will gain on the difference in the exchange rate...

Of course, Slovenia spoiled the calculation by meanwhile making independent agreement with creditors, so the alternative of solidary responsibility was no more valid. However, it seems that Yugoslav arguments for the charges against Slovenia based on that detail are quite convincing. The agreement between Slovenia and the consortium of commercial banks (headed by Chemical Bank from New York) has a special clause (added upon the request of foreign creditors) which states that in case of the charges for the creditors’ "discrimination" of the debtors, all expenses and compensations are to be paid by Slovenia. This means that foreign creditors were aware of the possibility of losing in court and as a precaution charged Slovenia with additional $152 million; the sum approximates 18% of the total amount of the so-called bought out debt controlled by "the Yugoslav juristic persons".

We found out few more details in the Slovene circles: the charges submitted against Slovenia to the London court will become valid when translated to Slovenian language. Meanwhile, Slovenia has tried to strike back - it requested freezing of the bonds worth $976 million that, according to the Slovene data, belong to the National Bank of Yugoslavia and are in Cyprus under the management of Borka Vucic, that is the agency of the Beogradska banka - COBU. It is expected that the trial will continue on September 16th and 17th. According to the director of the Slovene Succession Fund Blanka Primec, Slovenia is entering the new trial cycle with good chances. In fact, the BB COBU’s attorney denied the authenticity of the photocopy with the list of "connected persons" (persons that were connected during embargo) which was signed and issued by the American Ministry of Finance. In the sequence of the trial Slovenes will enclose the original document and the show will become really interesting.

A Minister Defends the Attic

Tranquillity of the tenants of the building no. 7 in Velikomoravska street was disturbed by the Yugoslav Army Major Vladimir Kovacevic on July 27th. The criminal indictment states that "early in the morning, while the tenants were asleep, he illegally moved in the attic by forcing the lock. He was assisted by Milinko Banjac, the civilian employed at VMA, who had also illegally moved in the attic a year ago." Since the assembly of tenants has pressed charges against Banjac and Kovacevic, the appropriate authorities of the Zvezdara community decided Banjac should move out because all of the tenants have bought out their apartments and gained the right to dispose of all premises of mutual interest, including the attic. However, at the preliminary discussion about the case of Kovacevic in the Assembly of the Community Zvezdara, an unexpected turn of events occurred: Kovacevic’s attorney presented the written decision of the Federal Ministry of Defense, Construction Department, that the attic is given to V. Kovacevic and M. Banjac to use and maintain it. The decision is signed by the Minister of Defense Pavle Bulatovic personally. It is not customary that a minister signs the document in the competency of the construction administration, that is, of someone of incomparably lower rank than that of the first man in charge of the defense of the country.

However, the tenants explained this by the family relations of Minister Bulatovic and V. Kovacevic. "We have made a contract with the company in charge of the maintenance of the building, and we do not need a major to safeguard the attic," say the tenants, stressing that they would not complain if a homeless war-widow with children has moved in. They also added that they would fight the legal way against those who use their family relations to move by force into the premises and than find a completely bewildering solution to legalize the act.

The tenants, apparently well informed, state in the indictment that the written decision of the Minister of Defense is full of fabrications. For example, it says "that major Kovacevic serves at VP2130 - Beograd", which is not true because he serves at VP - Pozarevac; this proves that he could not solve his housing problem in Belgrade, but in Pozarevac. By the way, the tenants also stress that Kovacevic receives thousand dinars in addition to his salary as aid for not having his housing problem solved.

Gilo Pontekorvo: I do not like "Lepa sela..."

Asked why he has not included the film of Srdjan Dragojevic "Lepa sela, lepo gore" in his selection, the selector of the Venice Film Festival Gilo Pontekorvo said that although the author greatly manages the tools of the trade and has an exciting story, he (Pontekorvo) does not understand why Dragojevic has used the clichés of the American war films. Upon my insistance that some films in which the actuality of the theme was given priority over quality were shown at former festivals, he said that in his case, when selecting a film he is not guided by ideological but artistic criteria, and that he as a humanist and as a communist by belief and practice prefers engaged movies. He criticized his old friend and ideologically like-minded Ken Louch for not being stricter toward the contrarios of Nicaragua in his film "Karla’s Song".

Radmilo Bogdanovic on Film

Travelers on the road to Jagodina may come upon an interesting reception these days. At the tollgate on the outskirts of town, just off the Belgrade - Nis highway, two buses bearing Jagodina registration plates, full of policemen in high spirits, are headed in an unknown direction, most likely towards Kragujevac where the workers demonstrations don't seem to stop. Spiteful lovers of associations will most certainly conclude that such a sight is utterly in keeping with the reputation of the town. On October 17, 1994, on the date of Jagodina's liberation, it proclaimed the former minister of police and the current vice-president of the Council of the Republics of the Federal Parliament, Radmilo Bogdanovic, an honorary citizen. The impression was completed by the announcement that a movie was recently filmed about Radmilo Bogdanovic.

The film "Radmilo Bogdanovic - Honorary Citizen of Jagodina" is a feature documentary, which was shown at the end of last week on the local TV station K-21. The movie is almost an hour and a half long and it was filmed in the production house of K-21. This is all the information that could be acquired from the nice and smiling employees of the TV station. The director Perica Stepanovic is authorized to relate further details who "shall be here in half an hour".

The above mentioned period was most probably used for an internal operative-security assessment, which, unfortunately, VREME didn't pass: instead of smiles, the only thing in sight was a "frozen" expression of the zealous secretary and a voice that wouldn't stand for any objections: "The director is busy, come back tomorrow". Needless to say, the director was busy again tomorrow, as he shall be the day after tomorrow as well...

What could set Television K-21 apart from the mass of similar local TV stations all over Serbia is most definitely their private film production - which produced a documentary project on the officially most honorable living citizen of Jagodina. "The idea for this movie came from my friend Perica Stepanovic which I accepted", says Radmilo Bogdanovic in a telephone interview for VREME. "The motive was the fact that, in the year I was celebrating my 60th birthday, I was proclaimed an honorary citizen of Jagodina. I financed a certain number of video tapes and handed them out to my friends and relatives. I wanted a document to remain, something personal which is intended for me and for those that I care for. I thought this was the right time, while I am still in prime condition," says Radmilo Bogdanovic and adds that he still isn't "for scrap" in a tone which discreetly, yet strongly warns those who would eventually wish to abuse the story of the movie. The former minister of police also insists that this is a private project and that there is no need to raise a media hubbub over it. Radmilo Bogdanovic didn't comment the fact that the "personal and private" movie was seen by the entire population of Jagodina.

It is interesting to note that the broadcast of the movie on the man who had for 20 years "played God" all over Svetozarevo of that period (he was the president of the Municipal Assembly for seven years, the head of the Secretariat of Internal Affairs, SUP, for eight years, to mention only the most influential functions), and later, all over Serbia, didn't arouse any special interest in Jagodina. Vladan Kovacevic, the president of the Municipal Committee of the Serbian Renewal Party in Jagodina, told VREME that he didn't see the movie:

"To be honest, I don't enjoy seeing that man on the street, let alone on a television set. Simply, I go out of my way not to see him, and the reasons can be found in his character and in the consequences of his rule of many years in Jagodina."

The president of the District Committee of the Democratic Party and member of the Main Committee of DS, Miodrag Nikolic, didn't see the movie either but, as he says, he can't wait to see it:

"I hear he has taken credit for constructing everything that was ever built in Jagodina, while I know that in all that time he didn't help to place a single stone here."

The malicious citizens of Jagodina aren't surprised that Television K-21 launched the idea to make a movie and later realize it themselves. Namely, it is a well known fact that frequencies for broadcasting TV programs are difficult to get and are easily taken away. Be it founded or not, the general belief that Radmilo Bogdanovic is still one of the most powerful people in the state definitely had to influence the director of a local TV station and so...

Bogdanovic's CV is unquestionably rich. Apart from the job in education and a bunch of "smallish" functions, he was mayor of Svetozarevo and head of SUP, president of the Community Municipalities of Sumadija and Pomoravlje, deputy of the Republic Secretary for National Defence, head of the Administration in the Republic SUP and, a fact not easily forgotten, Republic Minister of Police from 1988 to 1991 when, following the 9th of March demonstrations, he resigned yet remained in the "game" as an important person on the parliamentary security committees. He is the current vice-president of the "house of lords" in the federal parliament and is extremely active. Only in the last couple of months, he was soothing the Jugoeksport strikers, threatening Rugova, participating in the meetings of the Municipal Assembly of Jagodina where the main topic was the harvest... In the last few days he was making his rounds in the Serbian Republic, soliciting socialists votes, and it is certain that after September 14 he shall have to perform the same task on this side of the Drina river.