Press Release: State aid: Commission authorises Greek temporary scheme to grant aid of up to €500,000

The European Commission authorised, under EC Treaty state aid rules, a Greek measure to help businesses to deal with the current economic crisis. Aid of up to €500,000 per firm may be granted until the end of 2010 to businesses facing funding problems because of the current credit squeeze. The scheme meets the conditions of the Commission’s Temporary Framework for state aid measures, which gives Member States additional scope to facilitate access to financing in the present economic and financial crisis. In particular, it is limited in time and scope and applies only to companies that have not been in difficulties before 1 July 2008. It is therefore compatible with Article 87(3)(b) of the EC Treaty, which permits aid to remedy a serious disturbance in the economy of a Member State.

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