Thursday, August 25, 2011

Finland sticks to its guns over Greek Collateral Deal!

The Finnish Cabinet which met yesterday to consider German Chancellor Merkel's demand that the collateral deal with Greece be cancelled or amended, has rejected such a course, pointing out, as this blog did yesteraday, that it is strictly in accordance with the 21st July Euro Group deal on the second Greek bailout. Report here which has this statement:

Finland has not changed its stance on demanding collateral from Greece to guarantee its share of the bailout for the cash-strapped eurozone member, Finance Minister Jutta Urpilainen said Thursday as talks to find a compromise continued.

Urpilainen told reporters that the Finnish demands should come as 'no surprise' to other eurozone members since they had been raised and entered into the minutes at two European Union meetings.

More discussion with some amusing comment is here.



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