Presentation of the Deputy Prime Minister and the Minister of Finance, Igor Lukšić, Ph.D, on the occasion of the panel discussion Protection of deposits current situation and challenges

World financial crises, which overflow into our economy have in last months alerted world and professional public in finding the answer on how to find the way out and how to cope with the challenges dictated by the crises. We are the witnesses of the events on international scene large and developed world economies, recognized and renowned financial institutions and rating agencies are correcting their assessments from day to day. It seems that almost nobody is fully able to give an answer to how to get out of the crisis, or, at least how to get out of it with as little negative effects on public finances, banking and financial sector, economy and citizens as possible Moreover, we agreed with the Central Bank to allow the commercial banks to use up to 20% of compulsory reserves for the purchase of treasury bills, and on the basis of the Budget Law for 20009 we provided the borrowing up to 75 million for funding budgetary consumption providing additional impulse to our banking sector, to improve public operations liquidity and to strengthen the investment consumption component. Regain of trust in the banking system must in the next period represent a joint task of the Ministry of finance, central Bank and the Protection of deposits fund and primarily the task of the commercial banks in Montenegro