Loans in foreign currency and borrower’s rights, Part 2

On the 14th of April 2014 I wrote an article about loans in foreign currency and the rights of borrowers. The link to that article is here. The article dealt with the Opinion delivered by Advocate General Wahl, in Case C-26/13, Árpád Kásler and Hajnalka Káslerné Rábai v OTP Jelzálogbank Zrt, before the Court of […]

The rights of borrowers

In an interview to journalist Christodoulos Christodoulou (CYBC 2, Biz-Εμείς, 09/05/2014), Christophoros Christophi explains the rights of consumers that made loans from commercial banks in view of the haircut and the economic crisis and the inability of thousands of borrowers to repay their loans. Specifically he makes reference to the rights of borrowers to ask restructuring […]

Loans in foreign currency and borrower’s rights.

Many Cypriots in the past  decade have made loans in foreign currency especially in Swiss francs. At the time, borrowing money in Swiss francs was cheaper than making a loan in euro. In the years that followed the currency exchange between the Swiss franc and the Euro changed leading to an increase in installments and […]