Expensive Francs - Osnabrück′s Gamble with Loans | Made in Germany | DW | 17.02.2015
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Expensive Francs - Osnabrück's Gamble with Loans

Cheap interest and a stable exchange made loans in Swiss francs attractive for many communities - like the city of Osnabrück in Lower Saxony. But since the Swiss National Bank removed the cap on the euro, worry in the town hall is growing.

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Over the years Osnabrück says it's taken out loans valued at nearly 50 million francs over the years. But since the Swiss central bank's decision, the city has lost some €7.3 million on the books.