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Finland Open to New Collateral Model After Provoking Rebuke

Finland is open to adjusting its collateral arrangement with Greece after several euro members criticized the Nordic country for securing a bilateral deal to protect its commitment, Prime Minister Jyrki Katainen said.

“Everybody knew beforehand that this is a red line for us, we have tried to solve the problem, we have done it together with Greece,” Katainen said yesterday in an interview in Helsinki. “It’s a well-functioning technical solution, but if this particular model isn’t possible, then we have to try to find another model.”