04/03/1997
Original newspaper scan
scroll · drag · double-click

Rilindja Demokratike

4 March 1997

The current situation is discussed

Albanian political forces should find a common solution Brojka received a PDSI delegation Yesterday, Mr. Albert Brojka, Secretary for Foreign Relations of the Albanian Democratic Party, received an Italian delegation led by Mr. Ranieri, Secretary for Foreign Relations of the Italian Democratic Party of the Left. At the meeting, they discussed the social unrest of recent days caused by the collapse of the financial foundations’ pyramid scheme, its underlying causes, and the measures taken by the government to overcome the situation. Mr. Brojka expressed the view that the measures taken by the Government were decisive in preventing further deterioration of events, and he considered these measures the best course of action. The Italian guests emphasized the need for Albanian political forces to reach a common position at a round table on overcoming the situation that had arisen. For his part, Mr. Albert Brojka welcomed the understanding reached by most political forces at the round tables held so far and made clear that these meetings had supported the government’s work and the measures it had taken. He also stressed that the measures taken by the government had received the support of the International Monetary Fund and other international institutions.

Criteria set for distributing the foundations’ assets

Meeting of the Council of Ministers Criteria set for distributing the foundations’ assets Tomorrow — creditors’ day Tomorrow, lenders to the Populli and Xhaferi foundations will have the opportunity to begin collecting their money. In a very short time, it was possible to verify the lists and deposits in these foundations, thereby ensuring transparency between the banks that will carry out these activities and the people. As has been stated before, the frozen deposits will be distributed proportionally, and the total amount of frozen money is very close to the amount deposited by citizens. This is also the first step in the work of the government commission, and certainly the most important one. People will receive their money, an important action that spares a considerable number of people the trauma of losing their money. Ultimately, depositors will receive this money. After the distribution has been made according to the order in which the foundations previously accepted applications, the real estate owned by these pyramid schemes will also be redistributed. In a very short time, President Berisha’s promise at the expanded meeting of the DP—that the money would be returned to the lenders—was fulfilled. It happened much faster than the Socialists and other leftists had imagined. It happened much faster than they could accept people’s pain and turn it into an opportunity to exploit other people’s misfortune. The distribution of the money demonstrates the government’s concern for this problem and its full commitment to calming the public. It is a commitment ...

Criteria set for distributing the foundations’ assets

A meeting of the Council of Ministers was held under Mr. Aleksandër Meksi. Pursuant to the law “On the distribution of the assets of foundations that have conducted their activities on the basis of fraudulent pyramid schemes,” and on the proposal of the Special Commission, the Council of Ministers approved the method and criteria for distributing the assets of these foundations. Among other things, the decision stipulates that distribution will begin on 5 February 1997. The National Commercial Bank will distribute the assets of the “Demokracia Popullore Xhaferri” Foundation, while the Savings Bank will distribute the assets of the “Populli” Foundation. Where the National Commercial Bank has no branches, the assets will be distributed by agreement with the Savings Bank. Distribution will take place in two phases. The first phase begins on 5 February 1997, and an equal percentage will be distributed to all lenders in each foundation, in accordance with Article 5 of the relevant law. The second phase will begin once the sale of all other assets accumulated in the name of the foundations has been completed. The sums will be distributed in cash or through savings passbooks. Distribution will follow the dates on which money was withdrawn from the foundation. The earliest date will be treated as the first date. The banks will announce through the public information media the locations of the counters, the dates for collecting the sums, and the number of people who are to report to the counters on each specified date. To collect their money, lenders must present the payment receipt, which certifies the amount paid in, the name of the person who paid it in, and the person’s identification documents. Page 3

The counters open today

The Savings Bank sets out the procedures for distributing the money of the “Populli” Foundation

Creditors of “Populli” will receive 60% of the amounts deposited

Decision of the Special Commission approving the coefficient for repaying amounts to lenders of the “Populli” Foundation Page 3

Prosecutor’s Office launches investigation into the chief financier of “Gjalliçes”

Political crisis degenerates into violence

Journalists targeted by the “skopinët” and police rubber bullets President Berisha’s promise at the expanded meeting of the Democratic Party that the money would be returned to the lenders. It happened much sooner than the Socialists and the other leftists had thought. It happened much sooner than they could come to terms with people’s pain and turn it into an opportunity to capitalize on government’s concern for this problem and its total commitment to reassure people. It is a humanitarian commitment, not an incendiary one. There is a great difference between the conduct of the Albanian government and that of the opposition when Albanians are in trouble. Three days after the collapse of the foundations, the socialist leader told Mejdanit that the Socialists’ economic group was working to announce a possible solution. The contribution of this party economic committee really became apparent three days later. There were the fires set in Lushnjë, which continued in Berat, Vlorë, Fier, Patos, Gramsh and Korçë. So this was not a solution that could come from economists and financiers. It was a solution that came from terrorist groups experienced in this field. Never before has the violent character of the Albanian left been so clearly exposed. The Socialists and the extreme left set fires whether they are in government or not. That is what they did in 1991, and that is what they have done now. They always do so when people are facing great hardship and Albania is confronted with a delicate problem. Despite the natural pain people felt at losing their money, they did not set fires, did not join the arsonists, did not join the perpetrators of violence or that barbaric element of Albanians that still wanders around in politics. The socialist solution to the pyramid schemes was carried out without the participation of the swindlers and without their suffering. It served Albanian Leninism as much as it served to discredit the most regressive force, the PS, and security cliques such as PAD, PSD and others. When people get their money, they will understand even more clearly that those who govern them can never be their exploiters, as the Socialists are. This is important for those people to remember—the ones who were used to cause vandalism and inflict new suffering. Political crisis degenerates into violence Journalists targeted by the “skopinë” and police rubber bullets Page 6

Prime Minister Meksi’s statement to television

Any citizen who wishes to leave this money in the Savings Bank in order to earn interest from the date these assets were frozen and withdraw it later—because they had deposited it in the foundation to withdraw it later—may keep it in a savings passbook. If they do not wish to, they have the right to receive it directly in cash. Page 3

Company records seized

The Prosecutor’s Office opens an investigation into the chief financial officer of “Gjall“ces” Page 2

They face 15 years in prison

Security measures for the perpetrators of the fires and destruction are being reviewed

Every peaceful solution is supported

Prime Minister Bukoshi’s statement after talks in the USA The USA expresses its willingness to help resolve the Kosovo issue within the framework set by the international community Page 4

The cost of the money-distribution operation: 1 million dollars

It will be covered by the banks’ own revenues Page 8

The left returns to despair

Manipulating people devastated by the loss of their money greatly excited the leaders of the far left, but recent setbacks once again showed just how “powerful” they are in politics Page 3

Today, payment counters begin distributing the money

Distribution of the money from the “Populli” foundation Today, payment counters begin distributing the money Page 2