Spot On | Mathias Krabbe – Loan Crisis in Poland
Mathias Krabbe talks about Polish citizens, colloquially known as frankowicze (“franc people”), who have taken out mortgages in the Swiss franc. These foreign-currency mortgages offered favourable interest rates but at the same time exposed debtors to the risk of exchange rate instability. The appreciation of the franc after the financial crisis of 2007–2008 and its unpegging from the euro in 2015 has complicated the entire situation and caused massive increases in the mortgage debt of many debtors. His research aims to explore the currently unfolding events in general and in particular debt resistance in the form of litigation after the 2019 ruling by the European Court of Justice.