“Our goal is to redenominate loans,” presidential aide Maciej Lopinski told a news conference. “But there are different ways to achieve it. There is the legislative route and the amicable route.”
The Polish financial sector previously experienced a steep sell-off after a proposal in January for legislation would force banks to convert the foreign currency loans at historical exchange rates, potentially costing lenders some 67 billion zlotys, or $17 billion.
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“This (new) proposal is much milder compared with what had been proposed earlier,” brokerage DM BOS’s analyst Lukasz Bugaj told Reuters.
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