Euro-zone members floated the idea of using the European Financial Stabilization Mechanism to provide a bridge loan for Greece. This is the old fund that involves all 28 European Union members and not only the euro-zone.
The idea, raised by the European Commission, has angered the UK. Chancellor George Osborne called his German colleague Schaeuble to kill the idea before it became a deal. Using the EFSM requires only a qualified majority, making it easy to tap, but politically damaging, as it may strengthen the euro-skeptics.
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