Bronisław Komorowski (R) and Micheline Calmy-Rey (L)
The strength of the Swiss franc may cause problems not only for the Polish borrowers but also for the Swiss economy and its export, President of Switzerland Micheline Calmy-Rey said yesterday in Warsaw.
Calmy-Rey came on a one-day visit to Poland and met with Polish President Bronislaw Komorowski to discuss Poland’s EU presidency, and with Polish Economy Minister Waldemar Pawlak, with whom she talked upon economic issues.
On Thursday the Swiss franc hit a record high against zloty, euro and other currencies, reaching the value of 3.33 zlotys.
http://www.warsawvoice.pl/WVpage/pages/article.php/17058/news
Yes, I understand that the Polish industry heavily borrowed in Swiss francs, because the interest rate in Swiss francs was lower than in Euro. This was a gamble that failed, as the Swiss francs increased in value considerably.