Mish~ Mike Shedlock ~ Finland, Netherlands Reject ESM Model; Finland Insists On Collateral For Loans To Spain
Mish~ Mike Shedlock ~ Finland, Netherlands Reject ESM Model; Finland Insists On Collateral For Loans To Spain ~ 3 July 2012
How long Finland and the Netherlands are willing to put up with not having a say in how the ESM (or anything else in the EMU runs) remains to be seen, but both countries expect collateral for any loans to Spain.
Bloomberg reports Finland Firm on Collateral as Spain Aid Terms Discussed
Finland underlined its determination to get collateral in exchange for loans to Spain’s banks as the Nordic country targets similar terms to those won last year on its contribution to Greece’s second bailout.
“We have the requirements of collateral on the loans that are from the temporary vehicle,” Jukka Pekkarinen, director general at the Finnish Finance Ministry in Helsinki, said in an interview in Oslo yesterday. “The details are still open, but the principle standpoint is the same” as in the case of Greece, he said.
Collateral Demand






