Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking. Treat it as a searchable index of what was broadcast, not a quotation record.
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00:01:11Follow the day live. Professor Dejan Šoškić of the Faculty of Economics
00:01:14stated, as a guest on the show
00:01:17"Probudi se" on TV Nova, that the National Bank
00:01:20of Serbia had a series of controversial decisions when it came to Alta
00:01:24Bank, and that significant
00:01:27control was necessary. We had a completely
00:01:30atypical, abnormal, wrong, and harmful
00:01:33decision that the National Bank of Serbia allowed someone who owns
00:01:36a currency exchange office to buy a bank. So, that is absolutely done.
00:01:40That is a huge red flag. So, that is
00:01:43done. That is, I would say, the first mistake. After that,
00:01:46when you exhaust all possibilities to prevent someone
00:01:50from entering your banking sector because you believe they could
00:01:53potentially create risks and cause damage that citizens ultimately
00:01:56pay for, then the National Bank should have
00:02:00used the mechanisms it could, which is to keep
00:02:03its people in that commercial bank. It can appoint a person who
00:02:07will be present at every meeting of the executive board, at every meeting
00:02:10of the management board, to demand that
00:02:14risk management, that is, the risk manager and internal auditor, be placed
00:02:18completely beyond any power of influence of the director regarding
00:02:21salary, dismissal, hiring, to be in direct
00:02:25communication with the supervisor. They could have also
00:02:29done that. "When people are appointed to governing
00:02:32bodies, they can check their competencies if they have doubts.
00:02:36So, a regulator in the world, when they have doubts about whether someone knows
00:02:40banking business well or not, they can
00:02:43the central bank. Here, take the test. If you fail
00:02:47the test, you are not competent, you cannot be a director, you cannot be a member of the management
00:02:51board, you cannot be the chairman of the management board. Someone who ran
00:02:54a currency exchange office became the chairman of the management board. So, there's a whole series
00:02:57of fouls."
00:03:00I am talking about this topic with Birn journalist
00:03:03Radmilo Marković, who is a guest on N1. Good day and
00:03:07welcome. Thank you for taking the time for N1. So,
00:03:10Krik published yesterday, and after your article
00:03:14about Alta Bank, that Davor Matsura did not appropriate 45 billion
00:03:18dinars by simply physically removing money, but rather most of it by
00:03:22fictitiously recording the daily takings of the Altapay exchange office. So, that
00:03:25money never reached the treasury. In that way, he appropriated 370
00:03:29million euros, and he did this for seven years. This is revealed by the order
00:03:33to conduct an investigation by the prosecutor's office which Krik had
00:03:37access to. So, where
00:03:40was that money stored? What happened to it? The question of
00:03:44380 million euros. Well, we don't know where that
00:03:47money is. Birn wrote in the morning, meaning yesterday
00:03:51published an article, uh, where we, through the words of several
00:03:55experts we talked to,
00:03:57expressed suspicion that that money never actually entered. because it was
00:04:01physically impossible for such a large amount
00:04:05end of the report and something comes to of money to be inside and removed from the bank, because that was the first
00:04:09statement from Tok back when it was, when they
00:04:13issued it, that it was, that it was taken out of the bank by
00:04:17the director, by the owner entering the vault and then taking it out, as
00:04:21if that's possible. I mean, that's tons of money, it's not possible, trucks
00:04:24would have to come, it's simply not possible to take out that money that way, so we
00:04:28basically expressed
00:04:31doubt that the money was even inside. The prosecutor's
00:04:34order that Krik wrote about basically confirms this.
00:04:38So, it was recorded somewhere that money was entering, but money
00:04:41was not entering, at least that's what the prosecutor's office suspects. Where that
00:04:45money is is only the first and one of
00:04:48the most interesting questions, but only the first, because there are many, many more questions
00:04:52related to the whole story about Alta Bank. What are those
00:04:56other questions that need to be answered and
00:04:59this? This new finding somehow sheds new light on the question
00:05:03of what the National Bank of Serbia was doing, how it, in the period
00:05:06of seven years, did not notice that
00:05:10such things were happening at Alta Bank. So, that's the first question,
00:05:13what was the National Bank doing from 2020 until
00:05:17just now?
00:05:20paper for years now that
00:05:23in the bank, in the reports, it states
00:05:27that there is a huge amount of cash. End of
00:05:302024, 40 billion dinars. End of 2025,
00:05:34slightly over 50 billion dinars. So, these are huge amounts
00:05:37of money, and no one minds. That's
00:05:40quite bizarre because...
00:05:42the bank, how can I say, I'm not now, but it's not illegal, it's not
00:05:46illegal, but it's, as one of these
00:05:50people we talked to said, it's abnormal, because a bank
00:05:53receives some funds from various sources and then
00:05:57places them further at a higher price. That's how a bank works, that's how a bank makes money.
00:06:01So, for example, you give for some savings or
00:06:04deposit, if you are a company or whatever, you get some
00:06:07lower interest, and then at some higher interest you place a loan.
00:06:11So that's how a bank works. Here you
00:06:15have a situation where you are giving high interest rates on
00:06:19these deposits and holding cash, at least on paper,
00:06:22at least on paper, because now,
00:06:25I had access to the National Bank's decision
00:06:28to revoke Alta Bank's license. Now it says there,
00:06:32among other things, there are many things, but among other things,
00:06:36uh, the National Bank, when there was some control at the end
00:06:39of October, just the other day, they established that a large amount
00:06:43of cash could lead to fire, fraud, flood,
00:06:47earthquake, and that it could all disappear, and that it's a problem that
00:06:50they ordered the bank to reduce the level, the amount
00:06:53of cash. But this cash on paper has existed
00:06:57obviously. I don't know, no one did anything, no one controlled
00:07:01them. I don't know how else to explain it. So, that's the first question related to
00:07:04the National Bank. We now see from that order
00:07:07from Tok that the
00:07:11governor is listed as a witness,
00:07:15that the person in charge of the banking
00:07:18control sector is also listed
00:07:21as a witness. Uh, I don't understand
00:07:24that now, but okay. Another thing that was also
00:07:28talked about a lot in the media were those
00:07:32public deposits. We'll talk about that later, but
00:07:35what my question is, and you said in your article, that
00:07:39the National Bank had reason to go in and control
00:07:42Alta Bank even earlier, given that the bank had liquidity problems
00:07:46that lasted for months, and a huge amount of money was sitting
00:07:50in the vault in public reports. So,
00:07:53uh, how is it possible for a bank to have liquidity problems? It's bizarre, it's bizarre. If
00:07:57you have huge amounts of cash, you're not liquid. They don't go together.
00:08:01I mean, I'm no expert, but it just
00:08:04can't be. Someone much smarter than me should have asked that much
00:08:07earlier, right? Not now at the end of October. They, I mean, they
00:08:11had some. "Now they established at the end of October that
00:08:14these people had those problems throughout the year, but
00:08:18they should have known much earlier. And why didn't the National Bank react immediately
00:08:21on Monday, Tuesday, Wednesday, but waited until Friday? What Monday, Tuesday, Wednesday?
00:08:25They should have reacted years ago for all
00:08:29of this. So, if all of this, according to the prosecutor's suspicion, has been happening for years,
00:08:33they should have known it immediately. What Monday?
00:08:35Especially since now Tok and the National
00:08:39Bank are waiting for two or three days." for each other
00:08:42for someone to respond, for those from the bank, from Alta Bank, to respond to the National
00:08:46Bank, then for the National Bank to respond to Tok. I mean, if something is
00:08:50suspected, you go in and see, not now to, I mean, it says in that
00:08:54order that some smaller amount of money was actually taken out in cash, about
00:08:5817 million euros. So, directly physically taken out, which is
00:09:01much more reasonable as this amount of money, but it says in what
00:09:05period, when it was taken out, no, this, uh,
00:09:09so Nova Ekonomija wrote about
00:09:13it, about the testimonies of employees from Alta Bank that they
00:09:17noticed from Tuesday that funds were being transferred,
00:09:20that some money was being taken out. That's right, so two days after
00:09:24the election, uh, in the National Bank's decision itself,
00:09:27it says that within just two days, meaning October 28
00:09:31and 29, 140 million
00:09:34euros in deposits were withdrawn. So, someone was informed that they should withdraw,
00:09:38no one would just withdraw for no reason if everything was fine. So, a bunch
00:09:42of some. questions, and we're only at this level now. And one more
00:09:45question: why was the very first decision to revoke the bank's
00:09:49operating license? Why wasn't it previously done? And there were some
00:09:53other possibilities that could have been considered when
00:09:57there was such a problem with the bank. Again, we don't have, I mean, of course, I can't
00:10:00say whether it should have been done this way or that way. There are people who
00:10:04told me that maybe the bank
00:10:07was brought to a state where it had to go into bankruptcy immediately, but that previously
00:10:10a lot of things had to be done.
00:10:13This, uh, and the other theory is that they pushed it into
00:10:16bankruptcy because restructuring the bank would be
00:10:19much more transparent, and then it would be immediately clear what
00:10:23was going on. Now the bank is in the hands of the Deposit
00:10:26Insurance Agency, which is a whole separate story, uh,
00:10:30and they are now the managers of that
00:10:33dead bank. As one interlocutor nicely puts it, a
00:10:36dead bank is much less dangerous to them than if it had remained alive,
00:10:40so, because who knows what would have surfaced
00:10:43in the meantime. And you just mentioned how it will be
00:10:47resolved, you say it's in the hands of the Deposit Insurance
00:10:50Agency, which also has, if I understood
00:10:54correctly, the state. "had money in the
00:10:56bank. Yes, well, yes. So, they held, the agency that
00:11:00is now supposed to control the bank's
00:11:03held some deposit in Alta Bank. They didn't tell us how much they
00:11:06held, but it says in the decision, in that National Bank decision to revoke
00:11:10the license, that they held those
00:11:14funds from the old banks in bankruptcy, meaning which were with them, they put it
00:11:18there. Did they have some of their own, so to speak, personal
00:11:21income, did they put it there? For now, we don't know, but..." "you have
00:11:25in the Management Board, so that, how can I say,
00:11:28uh, the entire institution is controlled
00:11:32by the SNS. Furthermore, in that Management Board
00:11:36of the agency, two people from the Ministry of Finance sit, one of whom is
00:11:39the Assistant Minister of Finance, and the third person
00:11:43sits from the National Bank, the same sector director who was supposed to
00:11:47control, who is now called as a witness. So, these are the people
00:11:50who are now controlling what is happening in the bank. Then I come
00:11:54again..." to those next levels, there was talk about those
00:11:58deposits, how it's possible for everyone to suddenly recognize
00:12:02the energy of one small bank and money starts flowing
00:12:05from all sorts of various public companies and institutions. We were there, there's
00:12:09a quarter of Alta Bank's deposits are, according to some
00:12:12data, from the public sector, public enterprises, and banks
00:12:16in bankruptcy, yes, in the end, those banks in bankruptcy, that's from
00:12:19the agency, this uh, at the end of September, about
00:12:23400 million euros, it says so in the National Bank's decision.
00:12:26So, how did all those companies, not even
00:12:29companies, uh, but for example, Insider published
00:12:33a very detailed list of everyone they found,
00:12:37uh, for example, there's the city of Pirot, or I mean, completely
00:12:40uh, a bunch of various various
00:12:43sources of public money flowed there. How did all those people
00:12:46recognize that they should keep that money exactly there, even
00:12:49one investment fund of a reputable bank also,
00:12:53uh, we also had the opportunity to see that they also kept money in
00:12:57Alta Bank. How is that possible? That needs to be investigated, maybe you
00:13:01got the impression, why? Well, I got the impression, but I can't
00:13:04claim it now because I don't have, I don't have evidence, but that's not, that's one of
00:13:08the questions that simply needs to be explained: how did all those people, all those
00:13:12decision-makers, all decide to go to Alta Bank? And what will
00:13:16happen now, for example, with those institutions, companies?
00:13:19Their money is now actually trapped. Now they will,
00:13:22meaning, insured amounts
00:13:26up to 50,000 euros for individuals, small and medium-sized
00:13:29enterprises, but not for public institutions and large
00:13:33large companies. So, all of that is uninsured, and now they
00:13:36will have to stand in line. I don't even know how that works, but those
00:13:40bankruptcy queues are formed somehow, and then from that mass,
00:13:43everyone is compensated according to some order, but that will take time,
00:13:46they won't get what they had, they'll simply get less by the nature
00:13:50of things, so that's yet to come. But there's one more thing,
00:13:54uh... Besides
00:13:56deposits, uh,
00:14:00Alta Bank also gave loans.
00:14:04Were those loans insured, were they secured, did they
00:14:07have good collateral, as they say, so that they could be collected if
00:14:11someone couldn't repay? That is not known. Uh,
00:14:15we don't know who those loans were given to. Will they now,
00:14:19will those loans be repaid, will the deposit insurance agency find
00:14:23properly? These are all open
00:14:26questions. Let's go back now to the National Bank
00:14:30of Serbia, since now the question somehow arises: what were
00:14:33they doing, and should anyone from the National Bank of Serbia be
00:14:37held responsible for what happened with Alta Bank, since,
00:14:41as we saw, for seven years practically no one
00:14:44controlled or did not sufficiently control the operations,
00:14:47not only of the bank but also of the
00:14:50currency exchange offices. In fact, we saw now,
00:14:54since the fictitious recording of the Alta Pay
00:14:57currency exchange's daily takings, that money never reached the treasury, and the National Bank
00:15:01of Serbia should control not only banks but also currency exchange offices. You
00:15:05answered your own question, because uh,
00:15:08we had a day, or since it's bizarre again,
00:15:12meaning the National Bank took the license in the middle of the night at 3:30
00:15:16AM, they announced it that is, Friday to Saturday at 3:30 AM they
00:15:20announce that they took the Alta Bank license. Why is that done that way? I mean, okay, it should be
00:15:23on Friday so that there aren't disruptions, but so that it calms
00:15:27down over the weekend. But why at 3:30 AM? Then the next day, on
00:15:30Saturday morning, four vice-governors come out and announce, "Well, we
00:15:34didn't know anything." Mhm, they claim they didn't know anything until that emergency
00:15:37session. How is that possible, right? I mean, okay, now
00:15:41nothing? Couldn't you have come out and
00:15:43said they're bypassing us? I mean, I don't understand how it's possible
00:15:47at all that we don't know anything and it's like, that's it. I mean, all of that has to be
00:15:51investigated. There's no other way. The National
00:15:54Bank didn't answer you anything until the article was published, as far as
00:15:58I understand. After you published the article in Birn, they
00:16:01gave partial answers to your questions. Yes, they sent
00:16:04some answers five hours after we published the article, even though I told them when
00:16:08the deadline was. They didn't answer some of the most
00:16:12important questions, which is whether and when they conducted
00:16:16uh, control in Alta Bank. Uh,
00:16:20they referred to the fact that all of that is confidential and so on. Uh,
00:16:23now we're entering another problem related to access
00:16:27to information, access to information from the National Bank, because
00:16:30the National Bank is exempt from our journalistic law
00:16:33on access to information, but that is an important question, since you now must.
00:16:37"I can't do that, so they say no, no, no, no, it's not possible, it's
00:16:40confidential. Okay, I can now request it with a request, there's
00:16:44some procedure and that will take two weeks, and then they'll have to answer me. They'll tell me again
00:16:48that it's confidential. I could complain
00:16:52to the Commissioner, but in the case of the National Bank, because it's outside, it's exempt, just
00:16:55like the Serbian government, it's not possible. So, I have to write to the Administrative Court
00:16:59and wait three or four years for the proceedings before the Administrative Court to
00:17:03announce something or to say that it must be delivered to me. So that's
00:17:06meaningless."
00:17:18We don't have much time left, and I also wanted to ask you this: the student list pointed out
00:17:21the problem of Poštanska štedionica, by the way, Poštanska štedionica is the one
00:17:25that will pay out money to Alta Bank depositors, and they
00:17:29uh, at the beginning of November, submitted a request for
00:17:32liquidity assistance and called on the National Bank to
00:17:35investigate, in fact. The student list called on the National Bank to
00:17:39review the operations of Poštanska štedionica as well.
00:17:42Is there any reason for some, well, I don't know, I would have to, I mean, I'm neither
00:17:46an expert nor inside the institution to know.
00:17:49Uh, it seems to me that Poštanska štedionica itself
00:17:52sent some signals to the National Bank that some
00:17:56things need to be checked, but again, no one
00:17:59informs the citizens about it. Uh, are there
00:18:03any problems? And I heard that there are some problems, but I simply can't,
00:18:06I don't have... on what basis can I now write that it exists? That's something that
00:18:10is heard, uh, in the media
00:18:13and outside the media, but someone should come out again and say,
00:18:17"Look, this is the situation at Poštanska štedionica, the problem is this,
00:18:20the problem is that, or there's no problem at all." I mean, I don't know. Do you expect that the
00:18:24operations and working methods of the National Bank of Serbia will change now after
00:18:27the elections? After the elections, I mean, it shouldn't
00:18:31be. Mhm, that the way
00:18:34an independent institution changes because...
00:18:38"because the government changed in the elections, that's bizarre. They simply have
00:18:42very detailed procedures.
00:18:45Should it, based on, should it?
00:18:49Well, no, this is just one thing related to Alta Bank. Who knows what else is there?
00:18:53If four vice-governors didn't know about this at Alta Bank, who
00:18:56knows what else they didn't know and what the public will find out in the coming
00:19:00period? So, it's obvious that something wasn't working, but no one
00:19:04from the National Bank came out to say who doesn't have..."
00:19:07publicly, there are different ways to alarm the public that things are not going
00:19:11as they should, that things are not being done as they should, but it seems only when
00:19:15the license was taken, it was like, "Oh, we didn't know!" So, is that
00:19:18it? Thank you very much for this conversation. Radmilo Marković,
00:19:22journalist for Birn, was a guest on N1
00:19:25television. Dissatisfaction in Macedonia due to
00:19:29the events at Alta Bank,
00:19:32uh, citizens are also dissatisfied because they are
00:19:36trying to... get some limited amount
00:19:40of money. The bank is guarded by
00:19:43the police, and from Bitola, our Gordana
00:19:46Bjelatić reports on this. In front of the Alta
00:19:50Bank headquarters in Bitola, the police occasionally intervene
00:19:54as security. People have been queuing since this morning, trying
00:19:57to get in. Since this morning, after Saturday, the bank doors
00:20:01have been opened for the first time, however, not everyone can
00:20:04get in. Those who are in line are... Mostly people
00:20:08who since Saturday have not been able to withdraw a single denar
00:20:11of their money, those are card holders,
00:20:14mostly pensioners and recipients of social
00:20:17benefits. I have no idea.
00:20:20We hear on TV it will be like this, it will be like that, this
00:20:24and that.
00:20:26Nothing answered. And now some know, some don't know,
00:20:30we can't all be the same,
00:20:33that's how it is, but how can you not?
00:20:37get to your money, how do you live
00:20:40in the meantime? How do we live? That's how it is, well, while
00:20:43we have something, I have a request, we're going to take it by force
00:20:47from the store. There's
00:20:50nothing else, we don't steal, we take
00:20:53what's ready, give them money, here's your money and that's it. It was announced
00:20:57that there would be social assistance, that there would be care, but there's nothing. They said now,
00:21:01they don't have it now, they'll announce when they announce it, so we're waiting, you're still waiting,
00:21:04we're waiting again.
00:21:07In the meantime, what will we do? We'll stay
00:21:11in the streets, we'll stay in the streets.
00:21:13That's it. And what will this people do like this, what is this
00:21:17people? There are more police than people. What
00:21:20are we waiting for? From whom are the police defending the
00:21:22bank? From whom are they defending it? We will
00:21:25attack it. Alta Bank has thus become
00:21:28a Serbian and Macedonian problem.
00:21:31Journalist Kristina Atovska says that citizens in both countries
00:21:35have the same question: where is our money? Here
00:21:39there is a lot of talk about money, maybe something else
00:21:42is escaping from
00:21:45public opinion, but when it comes to it, because
00:21:48people here don't...
00:21:51have that much money, so it's always a very important, very important topic.
00:21:55So every time a bank closes or has some problems
00:21:58in the financial market, then it is a big
00:22:02scandal. The governor assures citizens that everything will be
00:22:06fine, that they will not be left without their
00:22:09money. Alta Bank is on one side an economic
00:22:12issue, on the other a political one. 11
00:22:15months ago we first spoke on this topic that Alta
00:22:19Bank must not...
00:22:50Here in the line, mostly they didn't even manage to get
00:22:53into the bank. They say from the National Bank that they will receive SMS
00:22:57messages and will have to wait for their turn. However, they are
00:23:00impatient, days pass and they do not have access to their
00:23:04money. Gordana Bjeletić, N1,
00:23:06Bitola.
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00:25:13And sugar-free,
00:25:16Vboha, a smart choice. Live
00:25:20power of nature for every day.
00:25:24Velbaum Kombucha in pharmacies. Velbaum
00:25:27Kombucha. Stiffness doesn't choose
00:25:30a moment. Alpenflex Complex. German formula for
00:25:33top mobility. Natural supplement for inflammation and stiffness
00:25:37of joints. 16 active ingredients that strengthen
00:25:40cartilage and restore freedom of movement. Alpenflex.
00:25:44German quality for movement without limits in
00:25:47pharmacies.
00:25:50The machine hasn't stopped for years without
00:25:52problems.
00:25:56The wet full king is dry, quality created to
00:26:00last Bosch.
00:26:03Tingling in the feet, numbness, ask
00:26:06in the pharmacy for peripherised Glyco, in one tablet two
00:26:10active substances in maximum doses, alpha-lipoic acid
00:26:14600 mg and uridine phosphate 100 mg. For your
00:26:18peripheral nervous system and stable blood sugar levels,
00:26:21peripherised glyco in Benu Pharmacies,
00:26:25great offers and big savings, Alpine cream at a
00:26:28super price of 999 RSD, as
00:26:31well as 30%. Save on Bioderma products. Collect
00:26:34points with every purchase.