Accessibility links

Breaking News

Croatia's Government Survives No-Confidence Vote

Ante Ramljak, crisis manager of Balkan food and retail giant Agrokor, in Zagreb on November 9.

Croatia's government has survived a no-confidence vote initiated by the opposition over the cabinet's handling of the debt crisis at the country's largest private food and retail company.

The vote early November 11 in the Croatian parliament was 78-59 in favor of the center-right government. The vote was triggered by the opposition, which claims the government bailout of Agrokor, the largest retailer in the Balkans, favored some creditors and lacked transparency.

The government and Agrokor's crisis manager, Ante Ramljak, rejected the accusations.

Agrokor, which employs some 60,000 people throughout the Balkans, racked up debt of about 6 billion euros ($7 billion) in recent years, including a disputed sum owed to a Russian state-run bank.

Agrokor founder Ivica Todoric turned himself in to London police last week after a European arrest warrant was issued for him by Croatia. He's now awaiting extradition.

Based on reporting by Reuters and AP