Finance Minister Wolfgang Schaeuble told the German parliament's budget committee that the first part of bridge financing for Greece, some 7 billion euros, would be available from July, conservative budget expert Eckhardt Rehberg said on Thursday. The funds would be available via the European Financial Stability Mechanism (EFSM) -- an EU-wide fund backed by the EU budget so disimbursements from it need the approval of all of the EU's member governments. Schaeuble told the committee that non-euro zone European Union members would be free from liability risks arising from use of the EFSM.
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