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,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.