Bad news or a helping hand for those at work on the big sale of Italian assets? Martti Hetemäki, Vice-Minister of Finance and Kare Halonen, Secretary of the State Council of Finland are today in Rome for confidential meetings with members of the Italian government, to provide the Finnish recipe to drop the debt cake: new covered bond issued by a new sovereign fund using the family silver (like ENI, Enel, Finmeccanica, real estate, cultural heritage, and… yes, Coliseum too) as a pledge. YLE1, Finnish national broadcasting company revealed, and larondine.fi launched on the Web.
Rumors say somebody may like the option, although the European Council rejected the proposal in Helsinki (28-29 June 2012), as it would segment debt in senior and junior tranches and could seriously affect the investors’ interest in the junior portion with subsequent cost raise.
