The Government is determined to address the potential social and financial stability problems that arose from wide-scale foreign currency mortgage lending activity that took place in the years preceding the crisis.

A solution has been built around an acceptance that the burden of the problem should be shared between the debtors, the creditors and the State, who all played a role in building the system which created the current problem. As a consequence, and also in order to minimize the budgetary impact of the proposed measures, it is essential and inevitable that all of these stakeholders should contribute to addressing the imbalance. In particular, the Government has devoted special attention to addressing the systemic problem that the problems of the FX-denominated mortgages has created.

Please find the whole text in the attached document.

(Ministry for National Economy)