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Europe Daily Bulletin No. 12346

11 October 2019
ECONOMY - FINANCE - BUSINESS / State aid
European Commission approves Greek asset protection scheme ‘Hercules’ for banks
Brussels, 10/10/2019 (Agence Europe)

On Thursday 10 October, the European Commission found that Greece's plans aimed at supporting the reduction of non-performing loans of Greek banks to be free of any State Aid.

Under the asset protection scheme (‘Hercules’), the Greek State will be remunerated in line with market conditions for the risk it will assume by granting a guarantee on securitised non-performing loans. If a Member State intervenes, as a private investor would do, and is remunerated for the risk assumed in a way a...

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