Wednesday, August 31, 2011

Finnish Minister defends Collateral Demand

EU Observer talked to the Minister, their full report is linked from here; the following being the main substance to my mind:

Speaking to EUobserver by phone on Wednesday (31 August), EU affairs and trade minister Alexander Stubb said the wealthy northern country's demand for Greece to give guarantees for Finland's part in the second Greek bailout is not down to fear of losing money.
"It isn't a question of the money. It's a question of principle. It reflects a sentiment that we have that you should not be rewarded for lax public finances. That's the whole point of being in the euro ... people have to be responsible about their public finances," he said.

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