HUP says solution for CHF loans threatens economy

The Croatian Employers’ Association (HUP) on Wednesday expressed concern “about the government’s insisting on unilaterally resolving the problem concerning the repayment of loans pegged to the Swiss franc, without previous talks, in a way that is questionable in terms of legal sustainability and that additionally burdens the economy,” and called for adopting a sustainable solution for socially vulnerable debtors through talks and based on analyses.
HUP adds that “consciously pushing banks into a loss and insisting that the cost of the planned loan conversion be borne entirely by them without any participation or responsibility of the second or the third side causes additional legal insecurity in the country, which contributes to mistrust by potential investors.”
This could lead to negative consequences like a reduction in budget revenues and loan placements for citizens and companies, withdrawal of capital and loss of jobs, and once again citizens will have to foot the bill.  The most frightening aspect is the ease with which such decisions are made without any analysis or estimate of the consequences, both negative and positive, HUP says, asking that a solution be formulated in accordance with guidelines by European and international institutions based on expert, detailed analysis.