Press Release: Free movement of capital: Commission contests Greek law on investment in strategic companies

The European Commission sent Greece a formal request to eliminate the restrictions on investment in strategic companies introduced by Law 3631/2008. The infringement procedure was initiated by a letter of formal notice in May 2008. Having analysed the Greek government's reply, the Commission considered that the restrictions represent unjustified obstacles to EC Treaty rules on free movement of capital and freedom of establishment. The Commission's request took the form of a 'reasoned opinion', the second stage of infringement procedures under Article 226 of the EC Treaty. If there is no satisfactory reply within two months, the Commission may decide to refer the case to the European Court of Justice.

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