Constitutional Court looking at default interest
Croatia has the fifth highest rate
A group of lawyers led by Danijel Pribanic requested the assessment of constitutionality of default interest last year, more precisely of Article 29 of the Civil Obligations Act, which defines its calculation. They claim that default interest in Croatia has never been legal, because its calculation was defined in the wrong way from the start, Lider writes. According to the European Commission's data, Croatia has the fifth highest default rate in the EU. Default interest is a major economic issue in Croatia, Pribanic argues.