EU Launches Probe Into Greek Cereal Aid

Law360, New York (December 14, 2010, 4:40 PM EST) -- The European Commission has opened a formal investigation into whether the Greek government's loan of €150 million ($201 million) to its cereal sector violated the European Union's state aid rules.

The competition watchdog said in a statement Tuesday it was initiating an in-depth probe of the loan following an initial inquiry that questioned its compatibility with the rules.

The commission said it began investigating the state aid to cereal-producing farmers and cereal-collecting cooperatives following a complaint in 2009.

That preliminary investigation showed that in 2008 the...
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