The European Commission announced on Tuesday that it has authorised the prolongation of the Greek guarantee scheme for credit institutions until 30 November 2019 under EU State aid rules, ANA reports.
The liquidity situation of the Greek banks is gradually improving, but challenges still remain, it noted. In this context, the Commission has found that the prolongation of the guarantee scheme is in line with EU State aid rules, i.e. the 2013 Banking Communication, in particular because the prolonged measure is targeted, proportionate and limited in time and scope.
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