The banks as specialists in underwriting and risk management are mostly exposed to credit risk in their operations and non-revenue exposures are to the greatest extent the result of approved risky loans. The aim of the paper is to determine the key elements from the definition of bad placements and their evolution, factors of representation, trend and structure, and provide recommendations to bank managers in selecting the strategies to manage the credit portfolios of poor quality for general optimization of the bank’s own business efficiency. Knowledge and experiential synthesis of various approaches in primary and secondary research of recent decades have been used to create the content of the paper. Key determinants of non- revenue exposure of banks were identified through an innovative analytical framework and analysis of current market data and proposed solutions. It was successfully achieved through comparison and critical experiential evaluation, starting from the aspect of modernizing the business models of banks in today’s reformed and post-crisis regulatory, supervisory and business framework of bank operations. Hence, the paper is a specific meta-analysis of previous research results obtained through a systematic inception point and a foundation for new scientific research papers in the Croatian language.

Social entrepreneurship literature continuously emphasizes the need for innovations in business models as businesses gain more importance in achievement of sustainable development. However, there is a lack of practical examples of sustainable business models which prevents their faster adoption among entrepreneurs. This paper analyzes and evaluates alternative hospitality model - Albergo diffuso which is by many authors considered to be an example of sustainable business model. Albergo diffuso is used for tourism restart and revitalization of rural areas as it recovers old buildings, creates new jobs, involves local farmers and entrepreneurs in value creation network and preserves local traditions. This paper applied qualitative research approach to analyze the business model of Croatian Albergo diffuso ‘Ražnjevića dvori’ using the semi-structured interviews. Tourism is of huge importance for economies around the world but at the same time it produces a lot of negative environmental and social impacts on local communities. Therefore, sustainable innovation, especially in business models, is needed to achieve sustainable development of tourism. This research showed that Albergo diffuso can be regarded as a sustainable business model because it creates sustainable value, includes stakeholders in the value network and establishes mutual value flows and thirdly internalizes negative environmental and social externalities. Researchers conclude that with small adjustments, Albergo diffuso as sustainable business model could contribute to sustainable tourism development. However, conclusions cannot be generalized due to limitations of the study that include small research sample and application on single case and further research is required.

One of the Banking Union's goals is undoubtedly to facilitate the development of a common supervisory culture, or in other words, the harmonization of supervisory practices, standards, and methodologies across Member States participating in this integration framework. And while common rules and regulations help to ensure regulatory and procedural consistency, the development of the common supervisory culture largely depends on the genuine cooperation among supervisors. This cooperation takes place within Joint Supervisory Teams (JSTs), as main operative units of the Single Supervisory Mechanism (SSM) responsible for the continuous oversight of systemically important banks, on the basis of common supervisory standards and methodologies, which also bring together EU and local supervisory. Based on an interdisciplinary theoretical framework of (political) economy, with a particular focus on the principal-agent problem as well as the theory of (de)centralization of decision-making in the Economic and Monetary Union, and through a qualitative analysis of various primary and secondary sources, this paper provides one of the first comprehensive examinations of the JSTs in the domestic literature (also focusing on JSTs in close cooperation), emphasizing the importance of multilevel cooperation, and revealing the participative rather than centralizing, nature of the SSM.  The paper concludes that joint supervisory teams function as the executive arm of a holistic, comprehensive process of checking banks’ soundness and in-depth micro-prudential supervision within the Single Supervisory Mechanism, and are crucial to the creation and consolidation of the common supervisory culture in the Banking Union.

This paper deals with GDP as the most widespread and most represented economic measure in the last seven decades. Although in the beginning GDP outlined what was important at the time, the paper shows that GDP hides more than it reveals in the modern economy. Despite numerous criticisms of economic growth and GDP as adequate measures for the 21st century, economies around the world in the midst of emerging from the crown of the crisis remain focused almost exclusively on that number. However, both the reports of the UN climate panel, and the very appearance of the corona virus have revealed all the shortcomings of such an approach. For example, the occurrence of natural disasters such as earthquakes and consequent reconstruction can significantly increase GDP, but this is not desirable from the aspect of the well-being of society. The paper outlines main critiques of growth and GDP and offers possible alternatives, some of which are already in use in neighboring countries.

This paper examines the foreign trade of Greece compared to the foreign trade of EU28 during the Economic Crisis (2008) and the Health Crisis (2020). Based on the findings of relevant scientific literature, the quantitativ
e data of external trade (exports, imports, trade balance) are recorded and analyzed methodologically. At the same time, the terms of trade and the degree of extroversion of Greek commerce compared to the corresponding figures of the EU28 during the period of the economic crisis (2008-2018) and the health crisis (2020-2021) are extracted. According to previous scientific literature in times of crisis, the volume of foreign trade at international, regional and national level is also bearing, among other financial figures.
The economic crisis (2008) and the implemented harsh restrictive measures due to fiscal contraction resulted, among other consequences, in the reduction of income and internal demand, that the businesses confronted, strengthening their commercial extroversion, while for the same reasons imports decreased, resulting in an improvement in the trade balance, the terms of trade and the degree of commercial extroversion. Accordingly, from the current data, it seems that the exports of both Greece and the EU28 decreased to about the same extent during the period of the Health Crisis (2019-2020). As far as the external trade figures are concerned, it appears that the Greek degree of sensitivity to the effects of crises is greater than that of the EU28. Indeed, it appears that exports are less vulnerable to the effects of crises than imports. This behavior of Greek foreign trade can be explained by the sectoral composition of exports, in which the greatest relevance is attributed to the products with great elasticity of demand in terms of income, by the smaller size of enterprises and hence the limited access to commercial loans and external financing, but also by the lack of competitiveness of exported products in terms of added value, quality and price, compared to those of the EU28 and especially of the most developed countries. Suggestions for further research are to expand the period of the data taking into consideration the period of 2021 and solving dilemma how the new geopolitical crisis of Russia and Ukraine will affect the international trade relations, bonds and transactions.