Brussels, 08/02/2006 (Agence Europe) - The European Commission has opened an enquiry into the Greek financing scheme for the early retirement plan of the Hellenic Telecommunications Organisation (OTE). This voluntary early retirement scheme was much costlier than the redundancy packages offered in the private sector because of the special status of OTE employees, which is almost akin to that of civil servants. Greece participates to the tune of 360 million euros (or 4% of its shares in OTE) in the pension fund, which concerns around 5 500 employees (almost one third of the entire OTE workforce) and the cost of which is around 1 billion euros. Although the Greek authorities do not believe that it is a state aid, the Commission has doubts that the Greek contribution is limited to the amount necessary to free OTE from the extra costs alleged because of the cost of labour. The OTE may also, according to the Commission, have benefited from other advantages, notably being exempt from paying unemployment charges or relief from pension obligations which would in any case offset the alleged extra costs. “The Commission favours measures which help former monopolists adapt to a liberalised market environment, provided that they are limited to what is necessary to create a true level playing field”, comments Neelie Kroes in a press release.