-Caveat Lector-
-----Original Message-----
From: International Justice Watch Discussion List
[mailto:[EMAIL PROTECTED]]
On Behalf Of Daniel Tomasevich
Sent: Friday, February 01, 2002 5:54 PM
To: [EMAIL PROTECTED]
Subject: Enron's curious Croatia client
Tudjman believed that investing in Enron was a good choice.
And that Enron could solve many issues on his foreign policy
wish list.
In the weekly magazine Globus, President Tudjman said that, on top of
a visit to Washington, he expected Croatia to join the World Trade
Organisation, Nato's Partnership for Peace programme and Nato itself
if he signed the deal. He even linked the deal to avoiding his arrest
and that of other senior figures by the Hague-based International
Criminal Tribunal.
Daniel
(article not for cross posting)
-------------------------------------------------------------
Financial Times (London) February 1, 2002, Friday
Enron's curious Croatian client
BY: ROBERT WRIGHT
DATELINE: BUDAPEST
The Enron collapse may have finally ended a long-running scandal over
relations between the US energy company and the semi-authoritarian
government of the late Croatian president, Franjo Tudjman.
Mr Tudjman, who led Croatia through independence, negotiated a
controversial memorandum of understanding with Enron before his death
in December 1999. It would have given Enron rights to build a power
station in Croatia and run it for 20 years, selling electricity to
HEP, the state electricity company, at above-market rates. Questions
about the deal intensified after Mr Tudjman's death and the election,
in January 2000, of a democratic government. Tapes of conversations
show that Mr Tudjman hoped giving Enron the contract would secure
political favours, including a state visit to Washington.
After renegotiation, Enron is thought to have retained the right to
build a power station and sell electricity to HEP at above-market
rates, though lower than previously. That contract expires this
summer, though details are unclear due to confidentiality agreements.
Enron's power deliveries to Croatia ended on November 30, when other
European deliveries ceased. The power station has not been built.
The deal's legacy, however, may be the light it sheds on Mr Tudjman in
his later years - and on Enron's readiness to and play along with his
fantasies.
In the weekly magazine Globus, President Tudjman said that, on top of
a visit to Washington, he expected Croatia to join the World Trade
Organisation, Nato's Partnership for Peace programme and Nato itself
if he signed the deal. He even linked the deal to avoiding his arrest
and that of other senior figures by the Hague-based International
Criminal Tribunal.
Croatia had been isolated politically - particularly by the European
Union - over treatment of Serbs during the offensive that ended its
war of independence.
When challenged on the cost of electricity under the deal - an
estimated Dollars 120m-Dollars 200m above market prices over 20 years
- he justified it using the political benefits.
In one meeting, Mr Tudjman asked Joseph Sutton, head of Enron's
international operations, how much influence his company had with the
US state department and whether it could arrange WTO entry.
Mr Sutton said he could not promise WTO membership, but guaranteed
that Enron and the US would lobby for Croatia's entry into the WTO,
Partnership for Peace and Nato.
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