Government of Serbia wrote off Zastava's debt of € 400m ?

Government of Serbia conditionally wrote off Zastava's debt of about € 400m. The debt in question is what Zastava owes to the State, bankrupted banks and Italian FIAT. Zastava owes about €300m to the bankrupted banks, about €50m to the State and about €42m to FIAT. Conditional writing off of the debt means that those debts will not be represented on occasions of Zastava's negotiations with potential strategic partners, which means that the biggest debtor, Zastava automobili Company, will enter negotiations as the company without debts. However, other aforementioned creditors will not be damaged, since all the debts will be paid from privatization incomes.