Juncker (l) gave Cameron (r) guarantees over future EU reforms (Photo: Consillium)

UK to accept Greek short-term loan

The UK will not oppose a €7 billion emergency loan for Greece following a deal with the European Commission that interweaves the EU’s two major political headaches: Grexit and Brexit.

Britain's chancellor of the Exchequer George Osborne will back the use of the European Financial Stabilisation Mechanism (EFSM) to provide short-term cash for Greece, according to British media.

In exchange, the Commission will make sure that Britain's money will not be exposed in case of a Greek def...

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