Franak Association: Do Not Pressure the Constitutional Court

The Franak Association condemned media speculations that the legal solution regarding the conversion of loans in ‘Swiss francs’ will fail at the Constitutional Court, deeming it pressure on the Constitutional Court, which they have called upon to consider their constitutional complaint before making a decision on the matter.

“In recent days, media have been circulating speculations about the failure of the Consumer Credit Act at the Constitutional Court. The Franak Association warns that this is direct interference in the work of the Constitutional Court and that it is prohibited by law,” the statement reads.

The Association wants to believe “that Croatian institutions are still Croatian and that they care for the interests of their citizens” and strongly condemns such pressure on the Constitutional Court.

In some media, it is speculated that a week after the parliamentary elections, the Constitutional Court will annul amendments to the Consumer Credit Act and the Credit Institutions Act, which regulate the conversion of loans linked to the Swiss franc into euro loans, thereby halting that conversion. Today’s Jutarnji List also published an interview with one of the coordinators of the Franak Association, Denis Smajo, in which he claims that Finance Minister Boris Lalovac “told him that banks, some from HDZ, and the Constitutional Court agreed that there would be no conversion.”

“Such speculations are extremely harmful to our members who are loan users, but also to society as a whole. The only goal of these speculations is to create panic and insecurity among people who have already faced too much injustice in their lives,” the Franak Association emphasizes.

They add that they see no reason why these legal solutions should be overturned, “especially considering the fact that all these people have been unjustly brought to the brink of existence.”

“It is urgent to resolve the injustice that is increasingly destroying our families every day, and the repeal of this law will continue that injustice,” they stress from Franak.

They note that “it is really unusual that such claims are being made just before the parliamentary elections, given that politics has done its part here, meaning the law was unanimously adopted and now needs to be implemented.” The Association reminds that the amendments to the Credit Institutions Act were unanimously adopted by 105 members of parliament and believes that “the adoption of the law showed that the members of parliament recognized the harmful situation in which 55,000 Croatian families find themselves and decided to give the green light for the implementation of the conversion.”

“Perhaps the answer lies in the large number of members of the Franak Association, which is indeed a significant part of the electorate in Croatia, but it is truly unacceptable for anyone to use such manipulations and intimidation of citizens. We sincerely hope that the information from the media is just speculation and that the conversion will be carried out in accordance with the adopted law. We firmly believe that the members of parliament made the unanimous decision to accept the ‘Swiss franc law’ as an informed one, not just a political one,” the Franak Association emphasizes.

They reiterate their position that banks have the right to file a constitutional complaint and seek an examination of the compliance of this law with the Constitution of the Republic of Croatia, “but that, likewise, the Franak Association has the right to seek an examination of constitutionality.” They remind that their complaint to the Constitutional Court is still pending and suggest that, before proceeding to assess the constitutionality of this law, the Constitutional Court should consider their complaint.

In June, the Franak Association submitted a constitutional complaint in response to the Supreme Court’s decision on the legality of the currency clause.