No One May Get Greek Collateral for Loans, Finland’s Savon Sanomat Reports

No country is likely to get collateral for their loan guarantees to Greece and thus Finland probably won’t participate in the Greek bailout, OP-Pohjola Group Chief Executive Officer Reijo Karhinen told Savon Sanomat newspaper.

“For the first time I’m concerned the euro system may fail,” Karhinen, who heads Finland’s second-biggest banking and insurance group, told the Finnish newspaper. The EU “must come up with decisions already this autumn” to solve the crisis, he said.

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net

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