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The indirect effect of this development was borrowers in Greece as well as elsewhere with a very large number of such loans in Hungary

April 14, 2019 0 Comment

The indirect effect of this development was borrowers in Greece
as well as elsewhere with a very large number of such loans in Hungary, are burdened
disproportionate as the monthly installments of their loans have increased by at least 30%
and their seamless capital respectively. On the other hand, banks, having
sufficient know-how and having access to international financial data had taken care of
to effectively offset their own foreign exchange rate risk on
disbursement of the amount of loans using specific financial instruments
and derivatives, which although they themselves were widely used at any time,
neither prior to receiving the loan nor after suggesting to the borrowers
compared to the respective price, knowing better than everyone
a probable collapse of the euro against the Swiss currency.