European Commission, 27/3/14
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The European Commission has
concluded that Greek public support measures granted to Larco General
Mining and Metallurgical Company S.A. (Larco) gave the company an undue
advantage over its competitors, in breach of EU state aid rules. In
total, the capital injections and public guarantees were worth €136
million. The Commission has decided that Larco must pay back the amount
with interest to mitigate the distortions of competition resulting from
the incompatible aid.