“One of the first laws to be tabled in Parliament, immediately after the election, will be one that regulates the issue raised by the developments in the Swiss Franc and the 70,000 Greek mortgage borrowers,” the press office of Prime Minister Antonis Samaras said in a statement.
The statement added that right after the lifting of Euro cap by the Swiss National Bank on Thursday, “the Prime Minister contacted the governor of Bank of Greece, Yiannis Stournaras, and the governors of the systemic banks on this issue.”
The decision of Swiss National Bank to lift the cap of the euro, surges the Swiss Franc and consequently the mortgage capital and the repayment installments for 65,000 Greeks who had taken loans in the Swiss currency but they were paying back in euro.
In an example displayed by state NERIT TV Friday noon, mortgage volume of 100,000 Swiss Franc had 80,000 value in euro. After the Swiss decision on Thursday, the value rose to 100,000 euro.
More see also Swiss Franc shock triggers mortgage panic for wealthy homeowners. It’s a Telegraph report on wealthy Russians…
PS I don’t know how wealthy Russians will solve their mortgage problems, but unwealthy Greeks will most likely have to vote for Nea Dimokratia and Samaras on January 25th.