Greece’s Supreme Court has overwhelmingly ruled that some 70,000 people who had taken out loans in Swiss francs will have to repay them at the current exchange rate and not that at the time they were issued by the banks, ekathimerini.com reports.
Due to a currency appreciation of the Swiss franc, many borrowers have seen the cost of their loan rise despite having paid regular installments in repayments.
The court ruled that borrowers were not, as they argued, misled by the banks, which were deemed to have sufficiently warned customers of the dangers involved in foreign currency loans.
Swiss franc is at its strongest level against the euro since 2017.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: pixabay.com
