BUSINESS

European court judge seeks 13 mln euro fine on Greece over shipyard

TAGS: Business

The European Court of Justice’s advocate general, Melchior Wathelet, has recommended that Greece be fined 13 million euros over Skaramangas Shipyards (ENAE).

Wathelet said Greece had failed to comply with a previous ruling by the court ordering it to reclaim subsidies to the previously state-owned shipyard west of Athens worth 670 million euros, with late fees.

The Belgian judge has also called for an additional fine of 9.5 million euros if the state does not complete the reclaim within six months of the new decision, with 2 million euros charged for each additional six-month period of non-compliance.

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