[news] The Recuperated Factory Movement Spreads to Eastern Europe

[Mostly Water - "Canadian" and International alternative news feed]

Serbian pharmaceutical factory «Jugoremedija», from the town of Zrenjanin, was privatized in 2000, in such a way that 58% of the shares were given to the workers, and the state took 42%. In 2002, the state sold it’s shares to Jovica Stefanovic, an infamous local capitalist, who made his fortune smuggling cigarettes, and who was wanted by Interpol at the time he bought the shares of «Jugoremedija». As all the other buyers in Serbian privatization, Stefanovic was not even investigated in money laundering, because the Serbian Government’s position at that time was, and still is, that it’s better to have dirty money in privatization, than to let workers

URL: http://mostlywater.org/node/8262