croatia property to be boosted by eu entry as bloc opens final chapters
News Posted On: 06 July 2010
The Croatian property market looks set to be boosted by EU accession on schedule in 2012, after the EU Permanent Representatives Committee (COREPER) recently green lighted the opening of the final three chapters -- judiciary, competition, and foreign, security and defence policy -- last week. The chapters will be on the table at an intergovernmental accession conference this week.
The Croatian property market has already seen a substantial boost in foreign demand, when it was expected to join the bloc in 2010. This time, especially given the increased caution of buyers after the crunch, buyers will want to see a more definite indication.
That is what they are getting however; earlier this year the European Commission said that: "If Croatia meets all outstanding benchmarks in time, the accession negotiations could be concluded next year."
The statements were made after the border row with Slovenia, which had blocked Croatia's accession was resolved. Now that the final set of chapters are open and there is no block from Slovenia, there is nothing to stop Croatia from becoming the 28th member of the European Union.
In fact, apparently, the only thing Croatia has to do in order to accede is cooperate fully with the Hague war crimes tribunal, which was also a contingent of opening the judiciary chapter.
The EU agreed to open the chapter after the Hague war crimes tribunal Chief Prosecutor Serge Brammertz's latest report on Croatia's co-operation with the court. Earlier this month, he concluded that while Zagreb has achieved only limited success in locating the missing "artillery diaries" from 1995's Operation Storm, he believes the search will continue. Closing the judiciary chapter will depend on Zagreb's full co-operation with the tribunal.
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