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Banking Sector: Difficulties in Croatia Ahead
In order to protect indebted home-owners, the Croat parliament will resolve a new bank act. Like in Hungary, foreign-exchange-based mortgage should be converted at the expense of banks.
Banking Sector: Difficulties in Croatia Ahead / Picture: © Vindobona.org
About 75,000 Croat borrowers are repaying foreign currency loans. Most of them took out Swiss franc loans and euro loans. After 2008, interest payments went up suddenly. Now, Croatia´s government plans to set fix interest rates for foreign-exchange loans. The government has submitted a proposal to the parliament, which will vote on the proposal next week.
The European Banking…
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