idun Posted February 23, 2015 Share Posted February 23, 2015 I imagine that most of you know that the swiss franc stopped being 'linked' to the € recently. The problem for some french hospitals and maybe some other institutions in France, is that they took out loans in swiss francs and the swiss franc's value has surged. 500million€ of extra debt to pay has been mentioned. About five hospitals were mentioned, including Rodez and the Loire (I think) and also Dijon.These loans are now 'owned' apparently by the swiss government who had to bail out Dexia. Unless the french government bails these hospitals out, then some will have problems functioning properly or so they said, on french news last night. Link to comment Share on other sites More sharing options...
andyh4 Posted February 23, 2015 Share Posted February 23, 2015 Not good news and should equally be a salutary learning point for anyone expecting to take a mortgage in a currency different from the one they earn their living in. Link to comment Share on other sites More sharing options...
nomoss Posted February 23, 2015 Share Posted February 23, 2015 I understood that the value of the SF against the Euro dropped in January, and is now recovering[url]http://www.x-rates.com/graph/?from=EUR&to=CHF[/url]The link opens at a one month history. Select history for one yearThe loans causing problems were taken out around 2007, before the SF was pegged to the EU in 2011. Link to comment Share on other sites More sharing options...
idun Posted February 23, 2015 Author Share Posted February 23, 2015 Since mid January this year, the swiss france has gone from being a steady'ish 1.2 to about 1.03, would make quite a difference repaying big loans. Link to comment Share on other sites More sharing options...
AnOther Posted February 24, 2015 Share Posted February 24, 2015 [quote user="andyh4"]a salutary learning point for anyone expecting to take a mortgage in a currency different from the one they earn their living in.[/quote]Equally applicable to living under a currency different to your income. Link to comment Share on other sites More sharing options...
idun Posted February 24, 2015 Author Share Posted February 24, 2015 Wot, like us[:D] One has to always work out the worst case scenario and then just go with the flow.[blink] Link to comment Share on other sites More sharing options...
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