Hungary has faced in the recent years with the issue of loans in Swiss francs. Budapest authorities took a total of three steps since 2001 to manage the crisis, but none of the proposed solutions have satisfied all the indebted population.
First, Budapest gave in 2011 a law that the loan payment was made to the franc / euro value back in 2008. The loan had returned fully to benefit from this law. The measure was advantageous for the wealthiest, who could afford to pay the remaining loan in a single installment.
Also, people were entitled to a loan from another bank in forints to pay the debt in the foreign currency.
A second measure taken by Hungary came in 2014 when it was decided to put a barrier for foreign exchange. Thus, for five of those debtors from paying rates during 2008, and 180 forints to a franc and 250 forints per euro. After these five years, the difference between the market today and the most advantageous to be fully paid in installments.
The last resort to manage foreign currency loans also came in 2014. Then the law was given on the total conversion of foreign currency loans, more exactly loans in francs, euros, and Chinese yen. These credits can be converted into forints and paid in the national currency.
The law has a loophole for those who wanted to stay with a credit in a foreign currency, which may apply and still pay the loan in the foreign currency.