Dutch Finance Minister Jan Kees de Jager has said the Netherlands is not interested in a ‘collateral deal’ as a pre-condition to providing loans to Greece.

On Monday, the EU’s finance ministers reached agreement on a Greek collateral of hundreds of millions of euros in exchange for 1.4 billion euros in loans provided by Finland. The money is to be invested in state bonds of triple-A status countries.

However, Mr De Jager said “All 17 member countries were offered the deal, but when you look at it, it’s really very unattractive.” The minister said he would submit the agreement to parliament, but expected the Netherlands to say no.