Gov't will consider a support plan for franc-debtors - Deputy PM

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, he said. “If the franc falls below PLN 4, the pressure on making regulatory changes will be different. But if it maintains its exchange rate longer, we will have to think about a rational support plan,” the deputy PM said. Last week, the Swiss National Bank announced it will no longer maintain the franc’s exchange rate against the euro above 1.20, causing an upheaval on global currency markets. The price of the Swiss franc soared to PLN 4.3 from PLN 3.5 last Wednesday, putting a strain on some 600,000 Poles with franc-denominated mortgages.