Posts
Both Hungary and Poland are acting to aid local borrowers as the Swiss franc continues it relentless rise.
Many homeowners in Hungary, Poland and Croatia got Swiss-franc loans because of lower interest rates than loans in their domestic currencies.
Now the franc's sharp rise...is biting them...and smothering consumer confidence.
Hungary's effort is more ambitious than Poland's...but may only kick the debt can down the road.
FOR details, examples of the Hungarian Plan:
http://www.reuters.com/article/2011/08/12/hungary-fxborrowing-idUSL6E7JC0GO20110812
