Szałamacha: Banks can spread out Franc bill expenses

Minister of Finance Paweł Szałamacha said on Thursday that the banking sector may spread out any losses resulting from the Swiss Franc mortgage bill. The media have estimated that this measure may result in expenses of 30-50 billion PLN for the entire industry. The measure, 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. Szałamacha estimates that this issue affects "hundreds of thousands of citizens and their families" and that  it is "a very real problem" for Polish society.