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UK's Osborne (c) opposes use of a EU fund to fund Greece, while Germany's Schaeuble (l) proposes debt IOUs and France's Sapin (r) could propose a bilateral loan. (Photo: Council of the EU)

UK to block Greece short-term funding solution

In the wake of the agreement reached Monday (13 July) for a new bailout for Greece, the focus today is on how to provide Greece with short-term funding.

EU finance ministers will discuss the issue on Tuesday at a meeting in Brussels, with the UK saying it would oppose any solution that would include British taxpayers' money.

"This is very complex. We looked at a number of possibilities. There are technical, legal, financial and political issues to consider," Eurogroup president J...

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UK's Osborne (c) opposes use of a EU fund to fund Greece, while Germany's Schaeuble (l) proposes debt IOUs and France's Sapin (r) could propose a bilateral loan. (Photo: Council of the EU)

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