No quick fix in row over Greek collateral: Finland

(WROCLAW) - Eurozone members are not expecting to find a rapid solution to a row over Finland's demand that Greece lodge cash collateral in return for further loans, Finland's finance minister said Friday.

"I think we are going to negotiate about it, but unfortunately I don't see that we can find a solution tonight," Jutta Urpilainen told reporters as she arrived for crunch talks among European Union finance ministers trying to douse the Greek debt fire.

However, she added: "I am optimistic that we can find a solution that everybody can accept."

The Finnish demand for collateral followed an electoral breakthrough for a far-right party opposed to further bailouts in April.

"The discussion on Finland is pretty technical at the end of the day," said Belgian Finance Minister Didier Reynders.

"If we want guarantees, the price comes down, the interest rate is obviously lower.

"So if Finland wants guarantees, it will obviously get a lesser return on the loans it gives," he added.