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Franc shock for East European borrowers


After the uncapping of the Swiss franc against the euro, the mortgage payments of hundreds of thousands of East Europeans have skyrocketed with the franc's rise in value. Must the individual states now come to the aid of borrowers?



Jutarnji list - Croatia | Friday, 11. September 2015

Appropriate help for Croatia's franc victims

The Croatian Finance Minister Boris Lalovac announced last week that the loans of Croatian citizens would be converted from Swiss francs to euros in order to reduce their interest charges. Croatia is taking the right action, comments the liberal daily Jutarnji list: » more


Gość Niedzielny - Poland | Friday, 10. July 2015

Help for franc victims deliberately complicated

The Polish liberal governing party PO wants to pass a law allowing loans taken out in Swiss francs to be converted into Polish złoty. But according to experts the terms for loan conversion will mean that only around 20 percent of borrowers stand to benefit from the measure. The Catholic web portal Gość Niedzielny is unconvinced: » more


La Tribune de Genève - Switzerland | Monday, 23. February 2015

Swiss economy needs fresh impetus

The Swiss economy must be more innovative if it wants to remain competitive despite the rise in value of the franc, the liberal-conservative daily La Tribune de Genève urges: » more


Blog Biziday - Romania | Friday, 6. February 2015

State guarantees could ease franc shock

After the uncapping of the Swiss franc by the Swiss National Bank many Romanian borrowers have also seen their mortgage payments spiral. Partial financing of the franc loans by the state could be one option but there's even a better solution, business journalist Moise Guran writes on his blog biziday.ro: » more


Super Express - Poland | Tuesday, 27. January 2015

End bank swindle in franc crisis

The Polish government is due to present proposals on Wednesday for helping people who are having problems servicing their mortgages after the uncapping of the Swiss franc against the euro. The conservative tabloid Super Express calls for the rigorous conversion of the loans from francs to zloty so that the banks are hard hit: » more


NaTemat - Poland | Monday, 26. January 2015

Work together to help Poland's franc victims

Thousands of people who took out loans in Swiss francs and are now in trouble as a result of the currency's rise in value demonstrated in Polish cities on Saturday. They called for state support and hurled accusations at the banks. But now is not the time for pointing fingers, economist Witold Orłowski writes on his blog at the portal naTemat: » more




Deutsche Welle - Romania | Thursday, 22. January 2015

Romania's Swiss franc victims don't need pity

After Switzerland's decision to uncap the franc against the euro, Romania too is discussing how to help its roughly 75,000 citizens who took out loans in the currency. But whatever it does will smack of cronyism, the Romanian service of the German public broadcaster Deutsche Welle criticises: » more


Novi list - Croatia | Wednesday, 21. January 2015

Croatia's costly aid for franc victims

Croatia's Prime Minister Zoran Milanović announced on Monday that the exchange rate for the Swiss franc against the Croatian kuna would be frozen for one year at the rate in effect prior to the decision to uncap the franc against the euro. The move is aimed at preventing over 60,000 Croatians who had taken out loans in Swiss francs from going bankrupt. The left-liberal daily Novi List asks who will foot the bill: » more


Rzeczpospolita - Poland | Tuesday, 20. January 2015

Don't help Polish franc victims unconditionally

The Polish Finance Minister, the head of the National Bank of Poland and representatives from the Polish Financial Supervision Authority will discuss measures for combating the franc crisis today. Borrowers should only receive state support under certain conditions, the conservative daily Rzeczpospolita believes: » more


Tages-Anzeiger - Switzerland | Monday, 19. January 2015

Strong franc may reduce immigration

The fact that the Swiss franc's exchange rate is no longer pegged to the euro will reduce immigration to Switzerland, according to the left-liberal daily Tages-Anzeiger. This could do as much to fulfil the demands of the right-wing conservative Swiss People's Party (SVP) as the targets of the controversial referendum against mass immigration (MEI) or the rejected initiative launched by the Ecopop organisation, the paper surmises: » more


Novi list - Croatia | Friday, 16. January 2015

Croatians look on helplessly

The sharp rise of the Swiss franc is dragging thousands of Croatians who took out loans tied to the currency into insolvency. National sovereignty and self-determination, as promised by the politicians, are being exposed as nothing but an illusion, the left-liberal daily Novi List admonishes: » more


La Repubblica - Italy | Friday, 16. January 2015

Financial markets triumph over central banks

The Swiss National Bank (SNB) has pulled out its weapons but the financial markets are jubilant at the prospect of the ECB's large-scale bond buying programme being implemented, writes the left-liberal daily La Repubblica: » more


Der Tagesspiegel - Germany | Friday, 16. January 2015

Switzerland's preemptive decoupling

The timing of the Swiss National Bank's decision is not pure coincidence, the liberal-conservative Der Tagesspiegel writes, pointing out that the ECJ has just signalled that the ECB will be allowed to buy government bonds on a large scale: » more


L´Hebdo - Switzerland | Thursday, 15. January 2015

Switzerland must question its entire existence

After Switzerland has been able to bask in prosperity for years its politicians can now no longer avoid asking themselves some truly important questions, the weekly magazine L'Hebdo writes in view of the turbulence in the country's economy: » more

 

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Further articles on the subject » Euro crisis, » Euro, » Fiscal Policy, » Currency, » Romania, » Europe, » Croatia, » Poland, » Switzerland
More from the press review on the subject » Euro crisis, » Euro, » Fiscal Policy, » Currency, » Romania, » Europe, » Croatia, » Poland, » Switzerland


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