EU High Court Fines Greece €2M Over Airline Aid

Law360, New York (July 7, 2009, 12:00 AM EDT) -- The European Union's highest court handed the European Commission a victory Tuesday in its latest battle with Greece over €161 million ($196 million) in allegedly illegal state aid to Olympic Airways, hitting the country with €2 million ($2.8 million) in fines for failing to comply with an earlier order to recover the funds.

The European Court of Justice also imposed a daily fine of €16,000 ($22,342) on Greece starting a month after the decision.

Greece has been trying for years to make Olympic Airways economically viable,...
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