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Deutsche Welle - Romania | Thursday, January 22, 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: "If we take a closer look, we'll invariably see that the victims of the Swiss franc are not the poorest people in Romania. ... Having a low-interest loan in Swiss francs for 20 years means you've got a higher than average salary. A considerable number of people are hit by this situation, but they are by no means underprivileged. ... Moreover there have been many situations in this country where banks have foreclosed on people without the state rushing in to help. Why didn't it? Because the losers had no connections, meaning they were invisible. ... They weren't politicians or TV journalists, so they didn't have the means or possibility to make their private problems a topic for political debate."

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