Poland not to impose conversion of Swiss franc mortgages
PR dla Zagranicy
Aleksander Nowacki
02.03.2015 15:01
Poland is very unlikely to adopt the Hungarian model of forced conversion of Swiss franc-denominated mortgages into the domestic currency, Deputy Prime Minister and Economy Minister Janusz Piechociński said.
Following the rapid appreciation of the franc after that Switzerland’s central bank abandoned its peg to the euro, some 600,000 Polish homeowners found themselves with much higher debts than anticipated. While the situation echoed that in Hungary in 2009, Polish banks have been “more reasonable,” Piechociński said.
Finance Minister Mateusz Szczurek said Polish homeowners and banks should negotiate voluntary conversions at an exchange rate that would minimise losses to all parties, namely at a time of relative Swiss franc weakeness and złoty strength. (an)
Source: PAP