Croatia's Polancec resigns over Podravka scandal

30/10/2009

ZAGREB, Croatia -- Economy Minister Damir Polancec resigned on Friday (October 30th) amid strong public criticism over a scandal involving local food producer Podravka. Already, several company officials have been detained for alleged involvement in a series of financial transactions that began in 2006. Investigators say they intended to buy out Podravka's shares and take over the firm using its own money, which cost the country 34.5m euros in losses. At a press conference Friday, Polancec -- who was also deputy prime minister -- said he is quitting because he does not want to harm the government and the ruling coalition. Opposition parties had called for his resignation. Newspaper Vecernji List quotes sources who say that USKOK, Croatia's anti-corruption bureau, is investigating Polancec. (HRT, Poslovni, HINA, Jutarnji List, Reuters - 30/10/09

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