Croatia declares a (partial) Jubilee
Feb 13, 2015
The idea of a biblical Jubilee is spreading, as debts reach crisis proportions around the world. Croatia limited its Jubilee to the poorest only, but it shows that the Jubilee idea is becoming known around the world. The message is getting out.
(NaturalNews) The small eastern European nation of Croatia has decided to let Christmas come early for its poorest citizens: Under a new initiative aimed at giving them a fresh start, the government is wiping out their debts, leaving some observers to relate the move to an ancient Biblical pattern indicating a looming financial collapse….
In order to be eligible for the debt-forgiveness program, Croatians must either be on a social welfare program or be earning no more than €166 a month. Also, they must not have any savings and they cannot own a second home….
By December, AFP reported, more than 322,000 Croatians had their bank accounts frozen because they had so many unpaid bills. In all, combined debts amounted to €4.1 million (as of this writing, €1 was equal to $1.15).
The chief economist with Societe Generale Splitska Banka, Zdeslav Santic, says he thinks the move will spur an economic recovery.