EU sues Greece for failing to recover illegal aid from miner Larco


The European Commission said on Wednesday it was taking Greece to the European Court of Justice (ECJ) over its failure to recover 135.8 million euros ($149.7 million) of illegal state aid to mining company Larco.

The ECJ already ruled in 2017 that Greece needed to recover the money, based on a Commission decision in 2014 related to capital injections and state guarantees.

The Commission said it wanted Greece to pay a fine of 3,709 euros per day from Nov 9, 2017, to the date it complied with the ruling, with a minimum lump sum of 1.3 million euros, in addition to a 26,697 euro per day fine from the date of the ECJ’s judgment. [Reuters]