Approximately 70,000 Swiss franc borrowers remain hostages of the banks, refusing to proceed with a settlement despite the recent legislative amendment providing for a workout scheme. Despina Soniadou, president of the Swiss Franc Borrowers Association, explains the reasons behind this refusal during her interview on BNtv's MAGGA show. Responding to journalist Antzi Stathatou, she explains exactly how the debt haircut provided by the new amendment translates into actual figures, while analyzing how other European nations effectively resolved the identical issue. Awaiting the upcoming Supreme Court ruling, Despina Soniadou details how and why courts in other jurisdictions ruled the exchange rate condition unfair, and what a matching verdict would mean for mortgage holders.
Watch the new episode of the show MAGGA on BNtv here:
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