Press Release: State aid: Commission approves restructuring aid for Greek Piraeus Bank

The European Commission announced on the 23 July 2014 that the restructuring plan of Greek bank Piraeus, including the integration of several Greek banks, to be in line with EU state aid rules. The measures already implemented and those planned will enable Piraeus to fully restore its long term viability, while limiting the distortions of competition created by the large amount of state aid granted.

• Primary Source

European Commission: RAPID: Press Release, IP/12/860:State aid: Commission temporarily approves aid to Alpha Bank, EFG Eurobank, Piraeus Bank and National Bank of Greece; opens in-depth investigations http://europa.eu/rapid/press-release_IP-12-860_en.pdf

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