Greece crisis: Treasury backs use of UK cash to help kick-start Athens’ economy

‘Britain’s Treasury department has approved the use of EU-wide funds to alleviate Greece’s debt crisis, despite Chancellor George Osborne insisting the eurozone should foot its own bill, it has emerged.

Anonymous sources told Sky News on Wednesday the Treasury will support the use of British cash as part of a bridging loan to Greece, on the condition there is an indemnity against the UK losing any money.

The revelation comes as the European Commission (EC) said it will use funds from the European Financial Stability Mechanism (EFSM) to lend Greece €7bn (£5bn) in short-term financing. The emergency funding program draws on money from all EU member states.’

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