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Greek Government Responds to EU's Desicion on Olympic Air

The Transport, Infrastructure and Networks Ministry hailed on Monday a decision by the EU General Court to reduce the amount of  illegal state aid that privatised Olympic Airlines.  In addition to its failed predecessor, the state-run carrier Olympic Airways, must return to Greek state coffers.
An announcement by the Greek Ministry stressed that: “today’s decision by the EU’s General Court, that partially annuls a previous decision by the European Commission concerning state subsidies to Olympic Airways and Olympic Airlines, fully vindicates our policy of waging a battle at every opportunity.”
The announcement also claimed: “today’s decision constitutes a moral vindication alone, proving, at the same time, that the previous government did not wage the battles, that it should have, with the necessary determination.”
A European second instance court on Monday slashed the amount of illegal state aid that Olympic Airlines and its failed predecessor must return it to Greek state coffers.
The European Commission ruled the airlines had received approximately 530 million euros in illegal subsidies before and after the restructuring of debt ridden Olympic Airways.
The EU General Court ruled that not all of the assistance received by the airlines was illegal. Some 400 million euros must now be returned.
(source: ana-mpa)

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