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Novi list - Croatia | Friday, January 16, 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: "All it takes is a stroke of the pen by the Swiss to show us how fragile our sovereignty is, how powerless we are and how meaningless the rhetoric in the presidential elections for everyday life. Especially for the 60,000 Croatians who took out their loans in francs, the euphoria of the elections has been replaced by disillusionment. ... Neither the government nor the new president can help them. Their lord and master is the Swiss National Bank. It is the one true power, capable of driving up your loan instalments to unaffordable levels overnight without blinking. And it can't even tell you it in your own language, and it doesn't have a clue about the problems and worries that plague you every day here in Croatia."

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