Association: Stop exerting pressure on Const. Court over CHF loans


The Franak association of debtors with Swiss franc (CHF)-indexed loans on Monday condemned media speculations that the legal solution regarding the conversion of their loans would be quashed by the Constitutional Court, calling on the court to, before ruling on that, consider the association’s constitutional complaint.

“Over the past several days, the media have been speculating that the Constitutional Court will quash the law on consumer loans. The Franak association warns that this is a direct interference with the work of the Constitutional Court which is forbidden by the law,” the association said in the statement.

The association wants to believe that “Croatian institutions are still Croatian and that they look after the interests of their citizens” and harshly condemns this form of pressure on the Constitutional Court.

Some media reported that a week after the parliamentary election, the Constitutional Court will quash the amendments to te law on consumer loans and the law on loan institutions regulating the issue of the conversion of loans denominated in the Swiss francs to euro-pegged loans and thus stop the conversion.

The Jutarnji List daily in its issue on Monday ran an interview with one of the Franak Association coordinators, Denis Smajo, who claims that Finance Minister Boris Lalovac had told him that “banks, some of the people from the Croatian Democratic Union (HDZ) and the Constitutional Court have agreed that there will be no conversion,”

“Speculations like this are extremely harmful for our members with loans pegged to the Swiss franc and for the entire society. The only objective of such speculation is to create panic and insecurity among people who have already suffered too much injustice in their lives,” Franak said, adding there was no reason to revoke the law, “notably considering the fact that all these people have been unjustly brought on the brink of existence.”

The association also notes “it is quite unusual to place such allegations ahead of the parliamentary elections, given that the politics had done its part, namely the law has been adopted unanimously and now it is necessary to implement it.”

The association reiterated that banks had a right to file a constitutional complaint and ask the court to voice its opinion if the said law was in line with the Constitution, noting that the Franak association also had that right. The association recalled that the Constitutional Court had not yet voiced its opinion about the association’s complaint concerning the Supreme Court’s decision about the foreign exchange clause. The association believes that before voicing opinion whether the said law is in line with the Constitution, the Constitutional Court should consider the association’s complaint. (Hina)