- This past week the Supreme Court of Poland has announced a favorable ruling towards bank customers (NR Judgment. II CSK 750/15), which undoubtedly may represent a fresh start for the future of those affected by FX Loans.
- Poland has more than half a million bank consumers affected due to this product. It´s capital has witnessed many mass manifestations over the years demanding political justice for the bank victims.
- More than 2.000 polish citizens united in Varsovia to demand President Duda to help those whom have FX Loans. The former president had promised to solve their present situation by forgiving the debt like the Croatian goverment.
Warsaw was the last European city to demonstrate against the Multicurrency Mortgages and claim a necessary solution. On September 10th, about 2,000 people came tofether at the Polish Parliament to complain again because of the placing the Multicurrency Mortgages and unefficient government solutions offered. In the election campaign last year, the current President of the Republic, Andrzej Duda, formally committed to implement “the Croatian solution” for the more than 600.000 families affected by this product.
The problem of Multicurrency Mortgages, known in the rest of Europe as FX Loans, covers a percentage of the population so high that during the campaign all politicians had to talk about it. Duda, sensitized with those affected made one of the pillars of his electoral program was based on defending the application of the law convirting all contracts into the national currency (Zloty) with the exchange rate on the day of the signing of the contract.
Today, the President said he would create a law that would finde a fair regulation of this product. Five months later all the solutions are clearly insufficient. Duda’s proposal is based on eliminating the financial derivative, leaving its former, the most effective and just within a context of injustice, solution back in the air.
The present Polish legal context has shown since the outbreak of this conflict be certainly more in favour of the banks. The Polish courts have generated more favorable resolutions to banks than to the victims, although the judgment are starting to be in favour of the victims. This week the Supreme Court of Poland has announced a favorable ruling towards customers (NR Judgment. II CSK 750/15), which undoubtedly generate a better future for the bank consumers.
Patricia Suarez, President of ASUFIN (Spain), could not finally be alongside their counterparts, as for example TUCONFIN was, due to all the obligations she had in Spain. It will be in October when she will be arriving at Varsovia to attend the seminar organized by Mariusz Korpalski. One third of mortgages in Poland are multicurrency. Of all the banks involved are both BZWBK (owned bank Santander) and Santander Consumer Poland itself, hence the relevance of the presence of Suarez (President of the spanish association ASUFIN) in Poland. Polish and Spanish (as also italian, greek, croatian, etc) have been united at other moments, for example, Tomasz Sadlik turn went with the president of ASUFIN to Brussels to defend at the European Committee Consumer rights the need to help bank consumers. The two major associations of Poland, ProFuturis and SBB (Stop Bankowemu Bezprawiu) have been responsible for organizing and promoting this event.
