Finland Gets Collateral Deal With Greece, Rejects Euro Bonds
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Finland reached an agreement with Greece on receiving collateral to cover its bailout contribution as the Nordic nation rejected any form of joint regional liability such as selling common euro bonds.
The “next weeks are very decisive in that we will see how other countries will respond to this collateral arrangement,” Finance Minister Jutta Urpilainen said yesterday at a press conference in Helsinki. “Finland has been critical of joint euro bonds and our stance is that every country is liable for its own debts.”