|Author (Person)||Spiegel, Peter|
|Series Title||Financial Times|
Two of the eurozone’s key creditor countries, Austria and the Netherlands, said on the 18 August 2011 that their backing for Greek bail-out loans may be contingent on securing concrete collateral from Athens, a move that would create fresh hurdles to the new €109bn Greek rescue that may be difficult to surmount.
The announcements by Austria and the Netherlands, two of the eurozone’s six triple A rated members, followed a tentative deal reached on 16 August 2011 between Athens and Finland, another triple A eurozone country which for months has demanded collateral in return for its support for the bail-out.
The Greek bail-out deal reached in July 2011 allowed for such bilateral agreements as a way to placate the Finnish government. Senior eurozone finance ministry officials started a two-day meeting to review the deal in Brussels on the 18 August 2011.
On the 20 August 2011 Greek Finance Minister Evangelos Venizelos called for the EU to step in and display a united European front following the flurry of demands by several eurozone states that Athens provide collateral in exchange for their contributions to a multi-billion-euro loan package.
|Countries / Regions||Austria, Europe, Finland, Greece, Netherlands, Slovakia, Slovenia|