This is required by representatives of consumer associations and the leadership of the left parties. Unlike other European countries, mortgage rates in these two neighboring countries are not fixed but floating. Floating rates in Europe are determined by summing variable (for Europe it is EURIBOR) and fixed interest set by the Bank.
At the moment, the EURIBOR fell below the zero mark. However, due to the second component, the rates remain above zero, but the situation may change at any time.
Carlos Torres Vila, CEO of Spanish bank BBVA, said that banks should not pay the borrowers interest on mortgage as it is as opposed to "the nature of the credit." In his opinion, the only possibility is zero rate. The representatives of the left bloc answer: " Credit agencies themselves tied their interest to EURIBOR, therefore, they must fulfill their obligations". Earlier this year the party has introduced to the local Parliament this bill.
Similar precedents have already taken place in Denmark. At the end of 2015, the Dane, Hans-Peter Christensen received from the Bank €33.5, because the interest rate was -0,0562%.
