FINLAND PROPOSES CREATION OF LUXEMBOURG-BASED COMPANY TO HOLD GREEK ASSETS AS SECURITY FOR NEW LOANS TO GREECE

FINNISH PROPOSAL WOULD REQUIRE GREECE TO TRANSFER ASSETS TO HOLDING COMPANY OPERATING UNDER LUXEMBOURG LAW

GREEK PRIVATISATION AGENCY WOULD OWN ALL SHARES IN THE LUXEMBOURG ASSET HOLDING COMPANY

IN CASE OF GREEK DEFAULT ON EFSF LOANS, OWNERSHIP OF HOLDING COMPANY SHARES WOULD TRANSFER TO MEMBER STATES