Serbian president says special law to solve problem of Swiss Franc mortgages

  The Beta news agency reported him as saying that the law would be adopted in the next few days or weeks. “Most of the burden will be bourne by banks but the state will take a part of it,” Vucic said.

Speaking after a meeting with representatives of an association of people with mortgages in Swiss Francs, the president said that “we should not forget that the irresponsible representatives of the authorities are to blame for the situation these people are facing”.

“Significant progress has been made with the full support and diligent efforts of the Finance Ministry, National Bank of Serbia (NBS) and CHF Serbia Association of mortgage holders and a final solution to the problem is closer,” a statement quoted him as saying.

Members of the CHF Serbia Association protested in front of the country’s top appeals court demanding a ruling to solve the problem last week when Vucic came to see them and promise efforts to find a solution.

Some holders of mortgages indexed in Swiss Francs have had their homes seized because they were unable to meet payments when the exchange rate changed.