CURRENCY RISK CLAUSE IN INTERPRETING THE C.J.E.U.
Carmen Adriana GHEORGHE
The issues of unfair contractual terms still involves many interpretations, and the currency risk clause is one of the most abusive. The phrase “to be clearly and intelligible” was recently interpreted by C.J.E.U.- september 2017- in favor of consumer credit.
At first sight, the decision it seems to be pronounced for credit consumers, but, in fact, the court leave it to the national courts to find if the clause was “clearly and intelligible” in the contract, for a normal consumer, medium informed and closely enough. The national courts have the task to assess the possible breaches of banks according bona fides/good faith and, on the other hand, one possible significant imbalance between contracting parties.
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Volume XI, Issue 1, January-June 2021, posted at 8th of June 2021