(Source: Court of Justice of the European Union)
The Directive on unfair terms in consumer contracts does not preclude the adoption of national provisions ensuring a higher level of consumer protection for certain terms not falling within its scope
In 2004, two consumers concluded a mortgage contract with the Greek bank Trapeza Peiraios, which was initially denominated in euros. In 2007, the parties signed two amendments to that contract, replacing the currency in which it was denominated for Swiss francs (CHF).
On 17 September 2018, those consumers brought an action before the Polymeles Protodikeio Athinon (Court of First Instance, Athens, Greece) seeking a declaration that the terms of that contract, under which repayment of the loan was to be made either in CHF or in the equivalent amount in euros according to the exchange rate applicable on the monthly repayment date or of the entire outstanding balance in the event of termination of the loan contract, were unfair.