Coric: HDZ fully supports conversion of CHF loans

The chairman of the Croatian Democratic Union (HDZ) party's Finance Committee, Tomislav Coric, said on Saturday that the HDZ fully supported the conversion of Swiss franc-pegged loans into euro-denominated loans and was confident that Croatia had a good case to defend this measure before the European Commission.

Responding to questions at a press conference, Coric said he was confident that the European Commission would accept Croatia's arguments in this case. "We hope that this problem will not escalate, but we must emphasise the fact that this law was passed in haste. The HDZ did warn of its shortcomings, but the HDZ will always support a bill that protects Croatian citizens, in this particular case 58,000 debtors in Swiss francs," he added.

The HDZ was the first political party in Croatia to call for the protection of citizens with CHF loans when this problem escalated in January 2015 and demanded that they be treated the same as holders of euro-denominated loans, Coric said.

Coric said that the HDZ and the future government, which he was confident would be led by his party, would have a solution to this and similar problems. Asked by the press to be more specific, he said that Croatian debtors would never again have to repay their loans in Swiss francs because they had been converted to euros. "That will not be their problem any more, and that is what is important to know at this point."

Coric said that a solution to this problem should be based on dialogue and constructive discussion, which had not been the case so far. Asked if eventually all this will be paid for by taxpayers, Coric said: "We hope not."

Last update: Sat, 09/07/2016 - 20:57

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