April 4, 2011 / 10:26 AM / 9 years ago

EU authorises 30 bln euros more in Greek guarantees

BRUSSELS, April 4 (Reuters) - The European Commission authorised a further 30 billion euros of guarantees for Greek credit institutions on Monday, part of the economic adjustment programme already agreed between Athens and the EU.

“The European Commission has authorised under EU state aid rules a budget increase for a Greek guarantee scheme with an additional tranche amounting to 30 billion euros,” the Commission said in a statement.

“This increase was already envisaged in a memorandum on the third review of the economic adjustment programme for Greece,” it said, adding that the guarantees were for Greek credit institutions such as banks and other lenders.

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