Thanks @achim03 for giving me example of turkey. It surely allowed me to understand things better and to see a bigger picture.
I have friends in Turkey that took depts in foreign currencies but this was also a catastrophe
That can be very risky. I have my mortgage in CHF (as many polish people do) since their interests rates are super attractive comparing to Polish ones. But it's scary to think what can happen if our currency would lose value and CHF would not. I would be burned alive with my debt.
And ENJOY your NY Celebrations.
Yours
Piotr
Hi @crypto.piotr,
We probably have the lowest interests worldwide. At the moment I have to pay to keep my money on my bank accounts... (negative interests). So mortgages are indeed very cheap in CHF. Mine is 1% p.a. at the moment so I can't complain :-).
I believe as long as our central bank tries at all costs to keep CHF pegged to Euro there is no big risk for you.
I wish you a happy new year !
Regards,
Achim