The value of the franc rose sharply, spelling trouble for everyone who has loans in Swiss francs but otherwise uses euros. According to last year's figures, these loans amounted to roughly 800 million euros in Slovenia – primarily mortgages.
In the pre-crisis years, one-fifth of households had loans in Swiss francs or with a currency clause tied to the Swiss franc. Yesterday, Slovenes who have loans in Swiss francs suddenly saw their liabilities increase by an astounding 15%.
Slovenia’s neighbors were also rocked by the news. Hundreds of thousands of Croatian savers desperately requested a meeting with the Croatian Minister of Finance. Otherwise many Austrians, Germans, French, Greeks, and Luxembourgers also have loans in Swiss francs. It’s unclear what the future will hold.
M. M., RSi
