I'm gonna warn you all again: crypto is NOT the future you want.

An international fiat under the direct control of international banking cabals and consortiums is the worst case scenario.

Whatever delusions of wealth and grandeur you hold, you MUST understand that everything you have can simply be taken away when it's nothing but a transient note in a digital ledger.

In other words: If the clauses in a contract are not formulated in a clear and understandable way, the consumer can revoke the contract. In this case, consumers no longer have to pay off their remaining debts and are even entitled to repayment of their down payment and all monthly payments already made.

According to Christoph Herrmann from Stiftung Warentest, the judgment will help many debtors. "Most of them can now revoke their old loan agreements, even if it has been many years since the contract was signed," he said. The law firm Gansel Rechtsanwälte, which was involved in the proceedings, announced that almost all private consumer loans were affected by the ruling. "The only exceptions are consumer loans with a mortgage, especially real estate."

Did the EU just effectively cancel most consumer debt?

These kinds of ruling should be very narrow. Unfortunately, the commies have one Germany's third world war.