Locked content Croatia to aid its franc borrowers

Croatian PM Zoran Milanovic has authored a plan to help Croatian franc borrowers. The Croatian government will freeze the franc-kuna exchange rate at the level it was before the dramatic 17 percent rise of the CHF. This scenario is to be maintained for one year and the banking system will be forced ...

Gov’t will consider a support plan for franc-debtors – Dep...

Deputy Prime Minister and the Minister of Economy Janusz Piechociński said that the government is talking to banks about the recent appreciation of the Swiss franc and about possible aid for people with franc-denominated mortgage loans. Further steps will depend in how the currency market develops, ...

CHF/PLN surge threatens Polish loan-takers and banks

After the Swiss National Bank announced Thursday it was not going to defend its exchange rate against the euro anymore, the CHF/PLN exchange rate soared to a record-high of over 5.0 before falling to approximately 4.1. On Wednesday, it stood at 3.57. The news hit Polish debtors with mortgage loans d...

Locked content The Swiss vote ‘no’ in gold reserve referendum

The majority of Swiss voters rejected an initiative to increase the country’s gold reserves during a referendum that took place during the weekend, Reuters reported. The proposal was to raise the volume of gold reserves held by the Swiss National Bank from 8 percent to 20 percent. In Poland, c...