Katainen satisfied with the agreement on collateral

(Translation. Original Finnish released on 17 July 2012.)

Prime Minister Katainen is satisfied with the reached agreement on collateral between Finland and Spain.

- Collateral narrows down Finland's economic risk in relation to the programme designed for Spain and that is very important to our Government. It is good that Parliament has the opportunity to discuss the package without delay. I personally hope that Parliament approves the package so that Finland, for its part, may participate in efforts to stabilise the economy in Europe and Finland. This is the Government's number one priority, said Prime Minister Katainen.

- The collateral negotiations were challenging due to the tight schedule, related technical issues and political pressures in Europe. The credit for reaching the agreement should go to Minister of Finance Jutta Urpilainen.  I also wish to extend my thanks to civil servants at the Ministry of Finance who spared no effort in reaching the agreement under extreme pressure.  The Government of Spain should be thanked for its constructive attitude towards Finland's special requirement. I also thank the other euro countries for accepting the differing treatment of Finland – this could not have been a politically easy thing to do in all countries.

Inquiries: Pasi Rajala, Special Adviser, tel. +358 400 464 393, Prime Minister's Office