“Before the financial crisis gripped Europe, banks heavily marketed loans in Swiss francs, which were available at interest rates a third as high as for loans in Polish zlotys, or even lower”
So, borrowers were avoiding the high interest rates of mortgages in the home currency and taking out loans with much lower interest rates in Swiss francs. Surely, the borrowers must have wondered why such a large interest-rate differential existed.
Well surely the people who didn’t make this mistake should be the ones responsible for bailing out those who did...