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Polityka Online - Poland | Tuesday, March 1, 2011

Home buyers must think globally

The Swiss franc has reached its highest-ever level against the dollar as a result of the crisis in North Africa, which in turn is making the mortgages many Poles have taken out in francs more expensive. This should prompt home buyers to take a greater interest in global events, the online edition of news magazine Polityka warns: "The Swiss currency has reached an all-time high against the dollar - to the detriment of those who are paying off loans they took out in this currency. People who borrowed Swiss francs from banks to buy the houses they had been longing for should take a special interest in foreign affairs because their welfare depends heavily on events that are important for the global economy. Simply put: the more peaceful things are in world politics, the less they need worry about how high their mortgage payments will be."

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