19/12/2016 (Agence Europe) – On Monday 19 December, the European Commission approved the prolongation of the Greek guarantee system for credit institutions until 30 June 2017. Whilst the liquidity situation of Greek banks is gradually improving, the Commission found that the six-month prolongation of the guarantee scheme is in line with the rules on state aid, in particular because the prolonged measure is targeted, proportionate and limited in time and scope. The Commission has previously used this type of measure on several occasions, with the aim of being able to monitor developments of banks in crisis and adapt conditions accordingly. The Greek guarantee system, which was initially approved in November 2008, was prolonged for a period of six months in June 2016. (TR)