NEWS

Swiss franc mortgage proposals by banks under fire

Swiss franc mortgage proposals by banks under fire

The Polish banking industry’s proposals for resolving the problems of Swiss franc-denominated mortgage borrowers come under fire from all sides in the mainstream press.

Both pro-government 'Gazeta Wyborcza' and right-wing 'Rzeczpospolita' lambasted the Polish Banking Association’s (ZBP) calls for the central bank or the state budget to co-finance the resolution to the problem.

For years banks made a killing from the spread between the exchange rate they charged their mortgage clients and the market rate, 'Gazeta Wyborcza' points out, which makes the taxpayer bailout particularly unpalatable.

Rzeczpospolita points out the proposal’s lack of details and the unfavourable conditions the banks offer their customers. Few borrowers would convert the debt on proposed terms, which means the proposal fails in the attempt to resolve the systemic threat posed by Swiss franc mortgages.

thenews

Chcesz na bieżąco czytać o wydarzeniach w UK? Pobierz aplikację Polish Express News na Androida i iOS.
Materiał chroniony prawem autorskim. Kopiowanie i publikowanie wyłącznie za zgodą wydawcy.


Podobne artykuły

World Bank: Poles need to start saving more

World Bank: Poles need to start saving more

It is important for Poles to save, as this not only guarantees them a better future, but also helps the country maintain a healthy economic growth says the World Bank. Economists have long warned that...

Do you have a Packaged Bank Account? See how you can get up to £ 4,500 back!

Do you have a Packaged Bank Account? See how you can get up to £ 4,500 back!

Every person which has a bank account can be charged with unused and unnecessary services, for which the bank charges fees. In this guide, you will learn how to save on accounts of Packaged Bank Account...

Kulczyk heads list of richest Poles

Kulczyk heads list of richest Poles

With a net value of around PLN 16 billion (EUR 3.84 bln) serial entrepreneur Jan Kulczyk is once again Poland’s richest individual. Kulczyk has regularly topped the list published yearly by the Wprost...

Not all financial institutions should be trusted, but Omni Finances should!

Not all financial institutions should be trusted, but Omni Finances should!

What bank clients complain most often about are well-hidden charges, small print on their forms, thousands of incomprehensible words on the documents they are given to sign...  It is hard to know your...

Here are 8 tricks, to help you fill your wallet with more cash. The last one breaks the bank - Literally!

Here are 8 tricks, to help you fill your wallet with more cash. The last one breaks the bank - Literally!

Every day seemingly trivial amounts of money escape from our wallets and bank accounts. But have you ever considered how much these small amounts add up to over the course of a year?

Polish Express helps Poles get on the property ladder in the UK!

Polish Express helps Poles get on the property ladder in the UK!

In some areas of the UK, Poles form a fifth of all property buyers with some of them buying a second or a third property.

Turkey lifts visa requirements for Poles

Turkey lifts visa requirements for Poles

The prime minister of Turkey has announced in Warsaw that visa requirements will be dropped for Poles as part of talks marking 600 years of diplomatic relations between the two countries. “Every modern...

Smallpox on the offensive in Poland

Smallpox on the offensive in Poland

Smallpox is becoming increasingly commonplace in Poland, the country's Main Sanitary Inspectorate (GIS) has reported. Last year 220,000 cases of the contagious disease were registered in Poland, which...

Veteran rock star now Poland's most trusted politician

Veteran rock star now Poland's most trusted politician

A new poll has found that rock star turned presidential candidate Paweł Kukiz is now the most trusted politician in Poland. The poll by the Centre for Public Opinion Research (CBOS) indicates Kukiz has...

Russia poses biggest threat to global security: Polish defence minister

Russia poses biggest threat to global security: Polish defence minister

Polish Defence Minister Antoni Macierewicz has said that Russia “is today the biggest threat to global security." Macierewicz was speaking at a conference in Brussels on Wednesday focusing on an upcoming...

Doctors and Ministry arrive at agreement

Doctors and Ministry arrive at agreement

The Health Ministry and a union of doctors have agreed on mutual terms and clinics will open on Wednesday. Following an intense 15-hour meeting which started on Tuesday, doctors from the so-called “Zielona...

Poles in favour of medical marijuana

Poles in favour of medical marijuana

A survey has indicated that Poles are strongly in favour of permitting the use of marijuana for medical treatment, with some 68 percent backing the policy. According to the PBS survey, 42 percent of respondents...

Ryainair to invest EUR 6 mln in Wrocław

Ryainair to invest EUR 6 mln in Wrocław

The Irish low-cost airline will employ 150 people at a new Aircraft Maintenance Facility in south west Poland. Ryanair has announced that construction of the maintenance base will open in March 2016, and...

March for teenager who died in drug bust

March for teenager who died in drug bust

Several hundred people took part in a peaceful march on Sunday afternoon in Legionowo, central Poland, in memory of a teenager who choked to death on a bag of drugs following a police action. The march,...