On Friday 10 May, the European Commission approved a new package of commitments by the Greek authorities that would allow it to consider that support for the National Bank of Greece was still compatible with EU State aid rules.
This support had been validated by the Commission in 2014 and 2015. In this context, the bank had to implement several measures, such as the sale of several assets. While some of them were successfully implemented, the bank was not able to meet all its commitments on time.
Consequently, on 10 April, Athens submitted new commitments to the Commission, including new deadlines and compensation measures to further streamline the institution's operations.
In its examination, the European institution took into account several factors, including the efforts undertaken by the bank and the consequences of a delay in the sale of certain assets on its viability.
The Commission then considered that the new commitments were equivalent to the ones accepted in 2015 and approved them. (Original version in French by Lucas Tripoteau)