Britain secures compromise on EU rescue fund for Greece

[WorldNews]

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Britain on Thursday dropped its opposition to an emergency EU loan to Greece after reaching a deal that would protect it and other non-euro countries against potential losses, the government said. The European Commission proposed giving Greece a three-month 7.0-billion-euro ($7.6 billion) bridging loan through an EU-wide crisis fund until its new bailout is ratified. Britain had vowed to resist any bid to use the European Financial Stabilisation Mechanism (EFSM), saying aid should come from the 19-country eurozone and not the full 28-nation European Union.

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