The Latest: UK Says Its Taxpayers Protected in Greek Loan

The latest on Greece's financial crisis (all times local):


8:00 p.m.

Britain's Treasury chief says the country has agreed to allow emergency funding for Greece through an EU bailout fund after receiving guarantees for protections for the U.K.

European Commission President Jean-Claude Juncker had earlier announced that the European Union had agreed on a short-term loan to help Greece cover its debts until mid-August.

Britain had been reluctant to allow the use of an EU fund for what it considers to be an issue of the smaller 19-country eurozone. Britain is not in the eurozone.

George Osborne says Thursday that no taxpayer money will be at risk as Britain and other non-euro states received "protections" for their contributions to the EU fund.

He said: "These have been tough talks, but the agreement announced this evening means an impregnable ring-fence around British taxpayers' money, which will not be at risk in any way in this emergency financing for Greece."


7:15 p.m.

A Greek government official says an expected Cabinet reshuffle will not be announced on Thursday.

Prime Minister Alexis Tsipras is expected to reshuffle his cabinet after a Parliamentary vote on an austerity bill early Thursday saw large numbers of his radical left Syriza party lawmakers vote against him, including prominent ministers.

Those who voted against the bill included Energy Minister Panagiotis Lafazanis and Deputy Welfare Minister Dimitris Stratoulis, while the alternate finance minister, Nadia Valavani, resigned ahead of the vote saying she could not support the bill.


6:55 p.m.

The eurozone's top official, Jeroen Dijsselbloem, says a short-term EU loan to Greece would allow the country to pay arrears it owes to the International Monetary Fund so the IMF can rejoin negotiations on a third bailout for the country.

Dijsselbloem was speaking to Dutch lawmakers Thursday, as European Commission President Jean-Claude Juncker announced that the European Union had agreed on a short-term loan to help Greece cover its debts until mid-August. Juncker didn't specify how much Greece would receive.

Dijsselbloem says that with the loan in place Greece will be able to pay back arrears it owes the IMF by Monday at the latest.

"That means the IMF will again be fully engaged."

Greece has been in arrears to the IMF since June 30, when it failed to make a loan repayment.


5:35 p.m.

Greece's interior minister says the government is likely to call an early election in the fall, after losing support in parliament for an austerity law.

Nikos Voutsis said the left-wing government narrowly avoided collapse in the vote early Thursday that was a key requirement for a third Greek bailout.

Voutsis told Sto Kokkino radio that elections are "very likely" and that if they don't take place in September, then it'll be October.

The austerity bill was approved with opposition party support, but the ruling Syriza party saw 38 of its 149 lawmakers defy Prime Minister Alexis Tsipras by either voting against or abstaining.

Voutsis said the government could have collapsed if the number of dissenters had risen to 42 — that would have made it more difficult for Syriza to legislate.


5:05 p.m.

The European Commission president says the European Union has agreed on a short-term loan to Greece until mid-August.

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