HELSINKI- The Finnish Ministry of the Finance is reservedly sending two high officers to Rome to discuss how Italy could obtain facilitated loans.

At the June EU summit Finland proposed that Italy could give its property as a collateral, in order to ease interest rate pressure and to facilitate access to credit markets. Finland's idea was heavily criticized, but, according to Yle, the Finnish TV broadcaster, Italian Prime Minister Mario Monti seems interested now in the Finnish proposal. That is why a high profile Finnish delegation, made by the Prime Minister's Secretary of State for EU Affairs Kare Halonen and the Ministry Under-Secretary Martti Hetemäki are flying to Rome on Tuesday. The purpose is to discuss how Italy could, in some way, make use of collateralised debt securities. 

Secretary of State Hetemäki did not want to comment during the Yle news broadcast.

The medicine which Finland is offering to Italy is believed to have been effective against the economic depression the Nordic country suffered in the 1990s recession, Finland gave the state property as collateral in taking market loans. The Finnish government believes that it eased access to credit and helped the Finns in recovering. Italy could now be interested in hearing the Finnish proposal, as Prime Minister Mario Monti seems interested in all the new ideas. In spite of the tough economic reforms, markets have not yet been convinced of the Italian market's ability to cope, as the interest rates on loans are still dangerously high. According to a Finnish idea - giving the state property as collateral - Italy could borrow at a lower interest rate.