The European Union's (EU) top court ruled on Thursday in favor of Polish co...
Attracted by lower interest rates some 700,000 Poles took out mortgages in foreign currencies, mainly in Swiss francs, nearly a decade ago. They are now paying far bigger instalments than they expected after the Swiss franc soared against the local zloty currency.
Poland’s bank lobby group, ZBP, said on Wednesday that the verdict would likely cost banks less than their previously expected estimate of at least 60 billion zloty spread out over a number of years. Poland’s ruling nationalist Law and Justice party ruled out state help for borrowers in 2017 saying instead that debtors should ask the courts for help. Some poor borrowers are, however, eligible for support from a special dedicated fund.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EU courts can order Facebook to remove illegal comments worldwide: European top courtCourts in the European Union can order Facebook to remove worldwide comments by ...
Read more »
A recent EU court ruling on Starbucks could have implications for firms like AppleEU court rulings for Starbucks and Fiat could indicate how similar tax investigations will play out and potentially push Brussels to probe more major multinational firms, industry experts have told CNBC.
Read more »
Countries Can Force Facebook To Remove Posts, EU Court RulesA precedent has been set for worldwide content policing on social media.
Read more »
Boris Johnson is trying to force the EU into rejecting a Brexit dealBoris Johnson is acting like Vito Corleone in the Godfather, only this is an offer the EU will have no choice but to refuse.
Read more »
EU official says UK PM Johnson's Brexit offer 'can't fly'Prime Minister Boris Johnson's last-ditch Brexit proposal 'can't ...
Read more »