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Greece will deposit cash with Finland as security for the portion of the bailout loan it is...

Greece will deposit cash with Finland as security for the portion of the bailout loan it is receiving from the Finns. Finmin Jutta Urpilainen didn't divulge any actual figures, as these are still being negotiated.
Comments (6)
  • Having read the linked article twice (very slowly the second time), I'm still left with the impression that Greece is depositing cash with Finland as collateral so Finland will loan cash to Greece. I'm totally baffled.
    16 Aug 2011, 09:59 AM Reply Like
  • Is this just politics? Was Finland totally unwilling to participate in the bailout loan unless the country being loaned to provided the cash. Now Finland can say they "participated" in the bailout, even though they didn't really?
    16 Aug 2011, 10:01 AM Reply Like
  • What this means is that effectively Finland has opted out of participation in the bailout... In return for their 'YES' vote they will not take on any (or just small) risk.

     

    Other Northern European countries might find this an interesting development...
    16 Aug 2011, 10:02 AM Reply Like
  • "This deposit will be invested in low-risk long-term debt securities."

     

    Funny.
    16 Aug 2011, 10:05 AM Reply Like
  • Greek bonds
    16 Aug 2011, 10:13 AM Reply Like
  • Probably Greek gold.....hmmmmm
    16 Aug 2011, 10:21 AM Reply Like
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