Between 60,000 - 100,000 contracts in the Republic of Croatia were concluded for loans in Swiss francs between foreign commercial banks originating from the EU and Croatian citizens. The Croatian media has once again brought up the problem of loans in Swiss francs and the difficult situation that people with loans in that currency find themselves in.
Already last year MEP Dubravka Šuica sent a letter to the European Commission and informed it of the ruling of the High Commercial Court in which the variable interest rate was declared null and void and pointed out that the banks raised interest rates in a unilateral and non-transparent way and that such practices had a negative impact on most debtors in Swiss francs.
Aware of the need to for this problem to be addressed urgently, on July 17th MEP Šuica again directed two parliamentary questions to the European Commission about guaranteed consumer loans in USD and Swiss francs, but also about the very practices of foreign banks in Croatia. Šuica directly asked the European Commission to declare whether it was familiar with the proceedings in process before the Constitutional Court of the Republic of Croatian or whether it is deliberately interfering with the proceedings before the Constitutional Court of the Republic of Croatian in a way that is difficult to find acceptable from the standpoint of the European Union.
Also, since the issue is about the consequences of illegal banking practices created by foreign banks originating from the EU and operating in the Republic of Croatia through commercial banks that are formally registered as Croatian, MEP Šuica also asked the European Commission whether they will take measures which will make the foreign banks compensate for material damages to Croatian citizens and to give them some form of moral satisfaction.