The European Commission decided today to send a letter of formal notice to Greece regarding the non-implementation by Greece of the Court's ruling of 9 November 2017 (Case C-481/16, European Commission v Hellenic Republic).
By this ruling, the Court condemned Greece for not implementing the Commission recovery decision of 27 March 2014, which ordered Greece to recover from LARCO General Mining and Metallurgical Company S.A. illegal and incompatible aid of € 135.8 million. This aid was granted to LARCO in the form of State guarantees and capital injections.
Greece has now two months to respond and demonstrate that recovery of the aid has taken place. Otherwise, the Commission may decide to refer Greece to the Court of Justice of the EU, calling on the Court to impose a lump sum fine and financial penalties on Greece.
