Greece΄s finance ministry Tuesday denied reports that euro-zone countries are discussing a Finnish proposal to transfer Greek assets to a Luxembourg-based holding company as security for new loans to cash-strapped Athens.
Reuters reported Monday that Finland had proposed such a deal to break a deadlock in euro-zone talks over collateral guarantees. Greek media, citing the Reuters report, said the Finnish proposal was being discussed in daily conference calls between euro-zone officials.
But in a statement, the ministry said “the issue of guarantees for Finland do not have any relation to talks being held with the relevant euro-zone groups.”
The 17 countries that use the euro are trying to resolve a dispute over Finland΄s demands for collateral in return for participation in a EUR109 billion aid package for Greece. The issue emerged as a stumbling block to the bailout after some countries objected to a Finnish-Greek cash deal struck earlier this month.
Under that deal, Greece will provide several hundred million euros worth of collateral to Finland in exchange for the Nordic country΄s contribution to the European Financial Stability Facility, the currency bloc΄s bailout fund.
(source: Dow Jones)
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