# Greek Swiss franc loan restructuring and legal developments > Live situation record from CLSTR: https://clstr.news/situations/greek-swiss-franc-loan-restructuring-program > Updated: 2026-10-11T00:00:00.000Z. Sources: 9. Developments: 4. Greece is implementing a debt restructuring program for approximately 38,067 eligible borrowers holding loans in Swiss francs. The program, which reached its application deadline on September 30, allows debtors to convert their debt into euros to eliminate currency risk. The benefits are structured in four tiers, offering exchange rate improvements ranging from 15% to 50% based on specific income and asset criteria. As the deadline expired, there was a sharp increase in applications. Of the original 14 billion euros in Swiss franc loans granted in Greece, approximately 60% of the principal has been repaid, leaving an estimated outstanding balance of roughly 4 billion euros. Banking experts estimate that between 70% and 75% of these remaining loans may be included in the restructuring program if applications are completed. The arrangement also provides a fixed interest rate between 2.30% and 2.90% for the remaining duration of the loan, with the possibility of extending terms by up to five years. Parallel to the conversion process, the Athens Court of First Instance has issued a landmark ruling providing legal protection to borrowers under the Katseli Law (Law 3869/2010). By overturning a previous lower court decision, the court reduced a borrower’s debt and secured their primary residence. The court recognized that the dramatic shift in the EUR/CHF exchange rate—falling from 1/1.65 in 2007 to 1/1.083 in late 2015—constituted an “unpredictable change in economic conditions.” This decision sets a significant legal precedent for other borrowers by applying Supreme Court jurisprudence regarding favorable interest rate calculations. ## Timeline ### 2026-10-11: Athens court grants debt relief for Swiss franc loans An Athens court ruling provides debt relief to a borrower under the Katseli Law, citing the Swiss franc exchange rate shock as an unpredictable economic change that protected their primary residence. 2 sources. https://clstr.news/cluster/athens-court-grants-debt-relief-for-swiss-franc-loans ### 2026-09-30: Greece Swiss franc loan restructuring deadline expires The deadline for Greek borrowers to convert Swiss franc loans into euros expires on September 30, with an estimated 70% to 75% of the 4 billion euro outstanding balance expected to join the program. 4 sources. https://clstr.news/cluster/greece-swiss-franc-loan-restructuring-deadline-expires ### 2026-09-20: Greece Swiss franc loan restructuring deadline set for September 30 Greece's deadline for Swiss franc loan restructuring expires on September 30, offering debt conversion to euros with exchange rate improvements of up to 50%. 2 sources. https://clstr.news/cluster/greece-swiss-franc-loan-restructuring-deadline-set-for-september-30 ### 2026-09-03: Greek Swiss franc loan borrowers face September 30 deadline Greek borrowers with Swiss franc loans face a September 30 deadline to convert debt to euros under a government regulation offering fixed interest rates and improved exchange rates. 3 sources. https://clstr.news/cluster/greece-deadline-for-swiss-franc-loan-conversion --- Cite as: Greek Swiss franc loan restructuring and legal developments. CLSTR, https://clstr.news/situations/greek-swiss-franc-loan-restructuring-program