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Denationalization |
BEOGRAD, 01. August 2002. - Not even the new leadership has done much to adopt a denationalization law. Thus we have a slow reform process in Serbia, which unnecessarily creates extra problems in the privatization process. Everyone here knows that without privatization, transition will not be successful. Meanwhile, it’s impossible to begin real privatization prior to true denationalization. Why is denationalization so important?
It is important to finally correct the long historical period of injustice taken out against the owners of private property, by the zealous and ideological communist regime. The system which we want to build for today’s Serbia must depend on private ownership. How can we build that system if we don’t first return private property to its original owners? Likewise, the same mistake is made to push privatization of social firms which were formed from the basic confiscation of private property from those individuals who simply thought differently from that regime. How can one privatize property which already has an owner?
That means undoubtedly, as soon as possible such a law must be adopted. Likewise, it is indisputable that all contracts based on the sales of seized property must be reversed.
Another question to consider simultaneously with the creation of the denationalization law is the operational implementation thereof. I must say that there is no single unique model to cover restitution but, we should reach a solution from case to case. In some cases, there already exist associations of people whose ancestor’s properties were seized and, it would be very easy to reach an agreement with them. In other cases, the properties could be immediately returned, after the eviction of the current occupants. It may be that the state will need to transfer it’s ownership to the injured parties and, then they may negotiate with the current occupants of the property. In cases where the property was destroyed by the state, the possibilities exist to award other state properties of equal value, shares of stock in a similar business or, cash according to existing models of privatization.
Methods of resolution can be found – it is most important that the state show good will in beginning this process. It isn’t worth it to wait any longer. The duty of the new leadership is to fulfill their pre-election promises. They can’t cover themselves any longer with false statements about democracy and a market economy.
On the other hand, all owners must accept all portions of the law concerning privatization; the state cannot pay for damages, lost income and, interest accrued during the time that the property was owned by the state. It isn’t realistic to expect to do that, because of well known reasons: we don’t have the money. The patriotic duty of the owners of seized property is that they shouldn’t ask for this compensation.
If the government implements the suggestions I’ve given here, which I’ve written and spoken about for years, then we have an excellent chance to find the correct way to rebuild our state and nation.
I sincerely hope that we have the strength in our current society for it.
I wouldn’t like to think of any other possibility.
Serbia is ripe for denationalization.
The only requirement is the proper government which will implement equitable denationalization.
Immediately
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By Branko Dragas, Banker and economist
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