06/12/2017 (Agence Europe) – On Wednesday 6 December, the European Commission approved the extension of the bank guarantee scheme in favour of Greek banking institutions until 31 May 2018. Although the liquidity conditions of Greek banks have improved, as shown by the fact that the guarantee scheme is being used less frequently, the institution considered that its prolongation was necessary. Concluding that the support measure was targeted, proportionate and limited in time and scope, the Commission found that its prolongation was compatible with EU state aid rules and the 2013 Banking Communication. Readers may recall that the guarantee scheme was initially approved in November 2008 and has been extended on several occasions, most recently on 3 July of this year (see EUROPE 11821). (LT)