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Austria Finmin Says Expects Swiss Franc To Weaken In Longer Term - Yahoo Finance

Wealthy Austria, which banned many foreign currency loans in 2008, has been less visit site affected by the Swiss currency move. But the removal of the cap means more costly debt servicing for some 151,000 households who hold a total 29 billion euros ($32.5 billion) in Swiss franc-denominated loans. "For Austrians who have loans in francs this means they have around 20 to 25 percent more debt," the Oesterreich newspaper quoted Finance Minister Hans Joerg Schelling as saying. "I don't think that the franc will stay this high http://bradleywngj.thoughts.com in the long term because http://vinceuzyn.iloveblog.com Switzerland can't afford it. Exports get too expensive and tourism will drop," Schelling said. He did not say how he expected Switzerland to rein in its currency.
More: http://finance.yahoo.com/news/austria-finmin-says-expects-swiss-100816345.html

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