Morawiecki: Best to wait a few months with the Franc bill

Deputy Prime Minister and Minister of Development Mateusz Morawiecki said that it is best to wait a few months before implementing the Swiss Franc mortgage bill, so that the mortgage conversion algorithm in the bill can be precisely examined. He added that the main aim should be to “ease the burden for those, who cannot afford to pay their mortgages.”

Morawiecki elaborated on his suggestion by saying that after a few months a more accurate estimate of the costs of the bill can be made.  He added that “institutions such as the National Bank of Poland or the Commission of Financial Oversight exist precisely to do examine things as this bill.”

He also underlined that doing so will ensure that the bill will not attract any disapproval from international arbitration tribunals. “This is something the banks themselves desire.” he added.

The bill, prepared by President Andrzej Duda, aims to help out Polish citizens who are in financial trouble after taking out mortgages in Swiss Francs. It will allow these mortgages to be exchanged for equivalent in ones in PLN, albeit at favorable rates for the citizens.

 

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