Expensive Francs - Osnabrück's Gamble with Loans | Made in Germany
- 9 years ago
Cheap interest and a stable exchange made loans in Swiss francs attractive for many communities - like the city of Osnabrück in Lower Saxony. But since the Swiss National Bank removed the cap on the euro, worry in the town hall is growing.
Over the years Osnabrück says it's taken out loans valued at nearly 50 million francs over the years. But since the Swiss central bank's decision, the city has lost some €7.3 million on the books.
More Made-in-Germany at: http://www.dw.de/program/made-in-germany
Over the years Osnabrück says it's taken out loans valued at nearly 50 million francs over the years. But since the Swiss central bank's decision, the city has lost some €7.3 million on the books.
More Made-in-Germany at: http://www.dw.de/program/made-in-germany