Juncker: demands for Greek collateral will be met by mid-September

EUROZONE countries will find a way to satisfy demands for collateral from Greece for new loans to Athens by mid-September at the latest, the chairman of Eurozone finance ministers, the Eurogroup, Jean-Claude Juncker said.

Finland wants Greece to provide collateral for new loans that it is to get from Helsinki as part of a new financing package for Athens.

Some other Eurozone countries like the Netherlands, Austria and Slovakia would also like Greece to provide such collateral to safeguard their public finances in case Greece were to default on the new loans.

“I am confident that we will find an answer to this issue of collateral. I don’t think we need a special Eurogroup,” Juncker said.

“We have an informal Eurogroup in Poland on September 16 and this issue will be concluded at the latest at that moment,” he added.

He told the European Parliament’s Economic and Monetary Affairs Committee that the group was working on a solution he hoped all countries would be happy with.