EU refers Greece to court over failure to recover shipyards state aid

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The European Commission said on Friday it had referred Greece to Europe’s top court for not recovering state aid granted to Hellenic Shipyards, asking for a fine of around 6 million euros ($6.6 million) over what the EU executive deemed unlawful subsidies in 2008.

“More than seven years after its adoption, Greece still has not implemented the Commission decision of June 2008, ordering the recovery of over 250 million euros of unlawful state aid to Hellenic Shipyards,” the EU executive said in a statement.

The Commission has also requested that the European Court of Justice impose a daily penalty of around 35,000 euros from the day of its judgment until Greece brings the infringement to an end.

[Reuters]

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