Partisans Instead of Experts

"Those in charge of Serbia's finances are greatly responsible to the Serbian people," said Stojanovic. Practically only President Milosevic can give the right answer with regard to the primary issue. I guarantee that he knows, every single morning, since he must know this, what cracks have to be filled, where there will be a strike, and where the salaries are late in arriving.... and the money goes where he says. That is why there is an enormous amount of money and a lack of it, at one and the same time.

The excessive printing of money is directly linked to the drop of the dinar's real value. Instead of the Governor, or some independent institution deciding on the amount of money to be printed on the basis of the goods fund, printing money here, is primarily a political and then social category. This is why what preceded the election of the federal government and calls for the Governor's resignation are not in the least unusual.

Former Yugoslav PM Milan Panic tried, and for three months really kept the printing works under control. We didn't have a freeze then, but the start of a restrictive policy, which must follow, sooner or later. It really must, said Stojanovic. They toppled Panic because of that, and not because he was Milosevic's opponent.

Stojanovic believes that in our conditions the National Bank practically "does not know" who its credit receivers are. Apart from the government, the network of commercial banks and the economy who are the only ones authorized to demand money, some private bankers are also accusing the National Bank of not giving them requested amounts. Stojanovic believes that even some parties could start demanding money. Indirectly of course, through influential politicians, and that this is why it is very important who is at the head of the National Bank: an expert or a yes man.

"Instead of experts, they have partisans who work ad hoc. Instead of the Governor, President Milosevic has total insight into, and control of the primary issue," said Stojanovic. "The director of the printing works is also in the know, and in these abnormal and totally irregular circumstances he has become a very important person and his name is not mentioned in public. So that those who should know, do not," said Stojanovic.

With regard to the national currency, Stojanovic mentions private printing works as a special tragedy. "Whoever wishes prints money and as much as they want! There are indications that there are 4-5 private printing works in Vojvodina, in Serbia and in Kosovo. It's a crazy situation. I don't think that Topcider (printing works) can guarantee its printing monopoly," said Stojanovic. If this were a state governed by law, as we keep being told, Stojanovic said that his suspicions would have been dispelled long ago.

"The people must be told the truth about the situation, and that we will be facing social disturbances in two-three months' time," said Stojanovic. There will probably be some money, but there won't be any goods.