By Tom Körkemeier and Jan Strupczewski BRUSSELS (Reuters) - The European Commission is proposing to give a 7 billion euro ($7.7 billion) bridge loan to Greece to cover the country's financing needs in July using the European Financial Stability Mechanism (EFSM), according to document from the EU executive. The proposal, seen by Reuters, says the bridge loan would have a maximum maturity of 3 months and would be repaid to the EFSM from money that Greece is to get from the euro zone bailout fund, the European Stability Mechanism (ESM) on the conclusion of negotiations on the next, 86 billion euro three-year bailout. The proposal to use the EFSM for the bridge loan is controversial because Britain and the Czech Republic are strongly opposed to it.
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