European officials will vote on the controversial use of an EU-wide fund to provide Greece 7 billion euros in emergency funding it desperately needs.
There is opposition from the United Kingdom and the Czech Republic because the funding is provided by taxpayers within the EU but outside of the single currency euro.
Greece needs the funding to repay its debts due the the European Central Bank on July 20th, or it almost certainly will be forced out of the euro.
The U.K. says it will approve the use of the fund, known as the EFSM, if leaders can guarantee protection from economic loss, but it would prefer to use funding from the European Stability Mechanism, which is set up for eurozone countries' use.
As an EU-wide fund, the use of the ESFM will be put to a vote for all 28 member states, but only 65 per cent approval is needed for it to pass.
European Commissioner of the Euro Valdis Dombrovskis [VAL-DIS DOM-BROV-SKis] says he recognizes the difficulties in choosing to use the EFSM.
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European Commissioner of the Euro Valdis Dombrovskis {VAL-DIS DOM-BROV-SKis] says he acknowledges the reasons behind opposition, despite giving the plan the go ahead.
In: "We are"
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