Dutch FinMin de Jager says that the Austrian proposal to link the eligibility for collecting collateral from the Greeks should be linked the the percentage private sector involvement on the part of the nations banks is not desirable. It would lead to a bigger demand for EFSF funds, the Fin Min says.
The bigger issue here is that there simply cannot be “side deals” between countries in order to overcome local political hurdles. It is a fundamental flaw of the euro: All for one and one for all, I though was the way the game was supposed to be played.
