Cyprus Mail

Lawyer says EU court ruling protects consumers with Swiss franc loans

By Stelios Orphanides

Consumers who received loans in Swiss francs from banks are protected from exchange rate fluctuations, a lawyer said a day after the Swiss National Bank scrapped the currency’s cap to the euro exchange rate.

As a result, Switzerland’s national currency gained more than 15 per cent towards the euro in two days and was traded today close to 1.01 francs per euro.

Related posts

Coronavirus: Minister said people must drastically limit contact with others

Jean Christou

Coronavirus: One new death, 35 new cases, risk ‘extremely high’ virologist says (Updated)

Jean Christou

Economic life’s quest to continue under coronavirus cloud

CM Guest Columnist

Coronavirus: two more cases in the north, 64 in total

Jonathan Shkurko

Coronavirus: Two BoC branches closed after confirmed cases diagnosed

Staff Reporter

One of two outstanding economy bills passed, vote on second postponed (Updated)

Jean Christou