Poland's Planned Mortgage Conversion Is `Pure Evil,' Belka Says

  • Central bank chief Belka calls plan `recipe' for crisis
  • Loan proposal puts zloty under `material risk,' Erste says

The Polish president’s draft legislation to convert $42 billion in foreign-currency loans into zloty is a “recipe for a banking crisis” that could weaken lending and economic growth, according to central bank Governor Marek Belka.

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