WHO SCREWED WHOM (January 23, 2008)
On a typical morning, I buy all the local newspapers available in Motovun’s post office. There are three of them—two from the Croatian capital and one from the largest town in Istria. The provincialism of the newspapers never ceases to amaze me, but I was still flabbergasted by what I found in them this morning. That is, by what I did not find. Although the panic in financial markets is at the top of the news around the world, the local newspapers mention it in passing on one of the back pages, if at all. It is as though New York, London, and Tokyo have nothing to do with Zagreb, let alone Pula. Of course, this only reflects the state of development of capitalism in Croatia, a veritable Wild East. Neither the editors and journalists nor their readers understand anything at all about the world’s financial markets. All they care about is who screwed whom and how. It will take years before things change, but it will hardly matter any longer. By then, everybody in Croatia will have been screwed. And how.