(Bloomberg) — Polish banks suffered a setback in a ruling by the European Union’s top court on unfair terms in foreign-currency loans while avoiding a worst-case scenario.Mortgage holders, who have struggled with spiraling repayments on their mostly Swiss franc loans, celebrated in Warsaw, hailing the verdict as a breakthrough. An index of Polish bank stocks dropped just 1.1% as some analysts said the ruling wasn’t a full victory for borrowers. The zloty strengthened in volatile trade.The ruling opens a path for the conversion of mortgages into zloty at the rate which prevailed on the day the loan agreements were signed.However, …read more
Source:: Yahoo Finance
